HCL Tech Q3 net rises 13 per cent to ₹2,944 crore

Our Bureau New Delhi | Updated on January 17, 2020 Published on January 17, 2020

C Vijayakumar, President and CEO, HCL Technologies

Gives FY20 revenue growth guidance of up to 17 per cent

Noida-based information technology firm HCL Technologies on Friday reported a consolidated net profit of ₹2,944 crore for the third quarter ended December 31, 2019, up 13 per cent against the ₹2,605 crore reported in the previous-year period.

Consolidated revenue from operations rose 15 per cent to ₹18,135 crore (₹15,699 crore).

The HCL Tech board has declared an interim dividend of ₹2 per equity share on a face value of ₹2 for FY20. January 27 is the record date for the payment of the interim dividend, whose payment date will be February 4, the company said.

Emerging technologies

“We have stepped into the new decade of innovation and reinvention,” Shiv Nadar, Chairman and Chief Strategy Officer, HCL Tech, said in a statement. “It is time to re-emphasise our focus on emerging technologies and prepare ourselves for the next phase of disruption. It must be our utmost goal to build technologies that strengthen the ecosystem, benefit all stakeholders and create better opportunities in the value chain.”

Going forward, the company said, revenues are expected to grow 16.5-17 per cent in constant currency for the current financial year. Revenue guidance is based on FY19 average exchange rates.

“We continue with our stellar performance over the years and have now crossed a revenue run rate of $10 billion this quarter,” said C Vijayakumar, the company’s President and CEO. “Within two quarters of its inception, HCL Software has already onboarded 4,600 customers. I am pleased that our results continue to validate and reinforce our growth, profitability and investment strategies.”

Attrition rate down

As on December 31, 2019, the company had 1,49,173 employees (1,32,328 employees). The attrition rate during Q3 FY20 came down to 16.8 per cent (17.8 per cent), it said.

Shares of HCL Tech closed at ₹598.80 apiece on the BSE on Friday, up 0.91 per cent from the previous close.

Published on January 17, 2020
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