Info-tech

HCL Tech Q2 net profit up 4 per cent at Rs 3,265 crore

Our Bureau New Delhi | Updated on October 15, 2021

Consolidated revenue up by 11 per cent at Rs 20,655 crore

Noida-based information technology (IT) company HCL Technologies on Thursday posted a consolidated net profit of Rs 3,265 crore in the second quarter ended September, a growth of around 4 per cent year-on-year (YoY) as compared with Rs.3,142 crore in the same period a year ago.

Consolidated revenue grew by 11 per cent to Rs 20,655 crore for the quarter in review, as against Rs 18,594 crore in the July-September quarter last year, the company said in a statement.

“The pandemic accelerated the need for building a sustainable and scalable future, and investing in purpose-driven growth. The lessons learned have sharpened our ability to adapt and to innovate and deepened our commitment to bringing positive change through technology…in the months ahead, we will further accelerate our actions and investments in emerging technologies, people to build a stronger and better future together,” Roshni Nadar Malhotra, Chairperson, HCL Technologies, said.

The company said its second quarter revenue growth was powered by services revenue at 13 per cent YoY in constant currency. Similarly, Engineering and R&D Services grew at around 13 per cent YoY, driven by traction in digital engineering.

IT and Business Services also grew at 13 per cent YoY constant currency, driven by acceleration in application modernisation and cloud transformation deals, it said.

During the quarter, the company won some large deals, including 15 deals of more than $100 million and 41 of more than $50 million.

“We have delivered a healthy performance this quarter, marked by strong growth across our services portfolio led by Digital Business, Engineering and Cloud Services. We had impressive client additions across all categories, reflecting the strong demand and relevance of our offerings across all our client groups. We signed 14 large new deals, which helped us record net new booking of $2.3 billion, a growth of 38 per cent YoY,” C Vijayakumar, Chief Executive Officer and Managing Director, HCL Technologies, said.

As of September, the company’s total headcount stands at 1,87,634, as compared to 1,53,085 employees in September 2020.

“Our net employee addition hit an all-time high of 11,135 this quarter. Our robust pipeline and continued strong employee ramp-up augurs well for our business momentum going forward,” Vijayakumar added.

Shares of HCL Technologies closed at Rs 1,250.90 apiece on the BSE on Thursday, down 1.17 per cent from the previous close.

Published on October 14, 2021

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