MUMBAI: Information technology major HCL Technologies today reported a 25.6 per cent quarter-on-quarter fall in its consolidated net profit to Rs 2,962 crore for the quarter ended March. The company’s consolidated revenues, however, rose 1.8 per cent on-quarter to Rs 19,642 crore.
Analysts had expected the company to report a near 21 per cent QoQ fall in consolidated net profit to Rs 3,152 crore and a 2.5 per cent on-quarter rise in consolidated revenues to Rs 19,779.6 crore.
The company’s outlook for the current financial year was robust as it expects topline to grow in double digits on a constant currency basis.
also said that its operating margin will be in the range of 19-21 per cent.
The company will pay an interim dividend of Rs 6 per share and a special dividend of Rs 10 per share.
The dollar revenue growth of the company during the reported quarter stood at 3 per cent on a quarter-on-quarter basis to $2.7 billion. The company’s deal wins in the quarter surged to a record high of $3.1 billion.
“With these solid financials, a passionate employee family and a business model that has consistently proven itself for its resilience and relevance, we step confidently into FY22,” said C Vijaykumar, president and chief executive officer at HCL Tech.
For the quarter, the company’s consolidated operating margin was down 640 basis points on a sequential basis to 26.1 per cent. The margin performance was muted due to wage hike taken by the company during the quarter and the payment of a special bonus to employees.
The growth in the topline of the company was led by financial services and lifesciences verticals, which grew 3.3 per cent and 6.6 per cent on-quarter, respectively.
For the quarter, the company’s consolidated operating margin was down 210 basis points on a sequential basis to 26.1 per cent. The margin performance was muted due to wage hike taken by the company during the quarter and the payment of a special bonus to employees.
Shares of the company ended 0.6 per cent lower at Rs 956.5 on the National Stock Exchange.
