Comments
Noida-based information technology firm HCL Technologies on Friday reported a consolidated net income of ₹3,142 crore for the second quarter ending September 30, up 18.5 per cent year-on-year (YoY), compared with ₹2,651 crore in the corresponding period last year.
Revenue of the company also grew by six per cent YoY to ₹18,594 crore during the quarter, as against ₹17,528 crore in July-September 2019.
On a sequential basis also, net income grew 7.4 per cent (from ₹2,925 crore), and revenues grew by 4 per cent.
The company declared a dividend of ₹4 per share. This is the 71st consecutive quarter of dividend pay-out.
‘Unprecedented times’
“These unprecedented times and the volatile global business environment have changed the way organisations operate. Enterprises are accelerating the adoption of technology and sharpening their focus on being resilient and better prepared for unpredictable situations,” said Shiv Nadar, Chief Strategy Officer, HCL Technologies.
As businesses rethink, redefine and refine their ways of working, it has become imperative for them to adopt sustainable practices that complement their agile business models, he said.
“We believe that business has a collective social responsibility to ensure that stakeholders have every advantage to succeed. At HCL, we are committed to ensuring the socio-economic development of the communities we engage with around the world,” Nadar added.
Digital, cloud push
The growth momentum was driven by the company’s continued leadership in Digital Transformation and Cloud businesses and a strong stability in the Products & Platforms segment, all of which continue to open diverse growth avenues, C Vijayakumar, President and Chief Executive Officer at the company said.
“Our investments over the last few years in next-gen technologies have held us in good stead during these difficult times and position us strongly to leverage the emerging market opportunities,” he said.
Shares of HCL Technologies were trading at ₹827.65 apiece on the BSE at 10 a.m., down 3.70 per cent from the previous close.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.