HCL Technologies Q4 net profit down 6%

Our Bureau New Delhi | Updated on April 23, 2021

Board declares total interim dividend of ₹16, including special interim dividend of ₹10/share

IT firm HCL Technologies on Friday posted a consolidated net profit of ₹2,962 crore for the quarter ended March 31, down 6.1 per cent, compared to corresponding quarter in the previous fiscal. This excludes the impact of a one-time milestone bonus paid to employees at ₹575 crore net of tax. For the quarter under review, the company’s consolidated revenues grew 5.7 per cent to ₹19,642 crore compared to the corresponding quarter in the previous fiscal year.

For FY21, HCL Tech's consolidated net profit increased 17.6 per cent to ₹13,011 crore, while revenue grew 6.7 per cent to ₹75,379 crore compared with the previous fiscal year.

The company’s board has declared an interim dividend of ₹6 per share. In addition, it has also declared a special interim dividend of ₹10 per share to mark the company crossing the $10-billion revenue milestone. With a total interim dividend of ₹16 per share, the company’s total dividend for the year is at ₹26 per share, it added.

Revenue outlook

In its guidance, the company said that it expects its FY22 revenue to grow in double-digits in constant currency. EBIT margin is expected to be between 19 and 21 per cent for FY22, it added.

In a statement, C Vijayakumar, President & CEO, HCL Technologies Ltd, said, “We have posted a robust Q4 FY’21 sequential constant currency revenue growth of 2.5 per cent. Our FY21 revenue stands at $10.175 billion, a growth of 2.4 per cent YoY and a net income growth of 13.2 per cent YoY (ex milestone bonus). We also registered the highest ever new deal booking this quarter of $3.1 billion with an all-time high exit pipeline. The booking and pipeline represents a well balanced mix of service lines, geographies and industries.”

The company said it won 19 new large deals in the fourth quarter across industry verticals. In FY21, HCL signed a total of 58 new large deals led by industries such as financial services,life sciences and healthcare, telecommunications, manufacturing and technology.

Published on April 23, 2021

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