Information technology firm HCL Technologies on Thursday reported multifold, or 226 per cent, jump in net profit to Rs 3,593 crore in the March 2022 quarter, against Rs 1,102 crore in the corresponding quarter last year. Its revenue during January-March 2022 rose 15.1 per cent to Rs 22,597 crore, compared with Rs 19,641 crore in the year-ago period.
The company has given a margin guidance of 18-20 per cent for the financial year FY23, while the revenue is expected to increase in the range of 12-14 per cent in constant currency.
In dollar terms, its revenue jumped 11 per cent year-on-year to USD 2,993.1 in the March 2022 quarter, compared with USD 2,695 a year ago, according to a BSE filing.
The company’s Ebitda (earnings before interest, tax, depreciation and amortisation) slipped 4.2 per cent to Rs 5,053 crore in the March 2022 quarter, compared with Rs 5,276 crore a year ago. Its Ebitda margin during the quarter fell to 22.4 per cent, against 26.9 per cent a year ago.
The company’s board has also declared an interim dividend of Rs 18 per equity share for the financial year 2022-23. “The record date of April 29, 2022 fixed for the payment of the aforesaid interim dividend has been confirmed by the board of directors. The payment date of the said interim dividend shall be May 11, 2022,” the company said in a statement.
Its total contract value (TCV) of new deal wins at USD 2,260 million for the March 2022 quarter, registering six per cent sequential growth.
The company’s total headcount at the end of March 2022 stood at 2,08,877. Its attrition rate in the last 12 months was 21.9 per cent at the end of the quarter.
For the full financial year, the company’s net profit stood at Rs 13,499 crore for 2021-22, compared with Rs 11,145 crore in the previous financial year.
“We have delivered yet another stellar quarter in our services business, where the revenue is up 5 per cent quarter-on-quarter and up 17.5 per cent year-on-year in constant currency. Over the past three quarters, our services business has been consistently growing organically at 5 per cent and higher, delivering one of the highest CQGR in the industry,” said C Vijayakumar, chief executive officer and managing director, HCL Technologies Ltd.
He added that the company’s overall growth on a year-on-year basis stands at 12.7 per cent, which is better than the guidance led by strong momentum in digital, cloud and engineering services. “We continue to invest proactively to create a larger talent pool to address the demand.”
HCL Technologies Chairperson Roshni Nadar Malhotra said, “Our core beliefs of innovation and collaboration, driven by a strong faith in humanitarian values, have stood us well in these fast-changing times. Clients worldwide see HCL Technologies as their partner of choice to drive business outcomes with our leading-edge technology services, solutions and products. We remain committed to transforming lives and uplifting marginalized communities through the work and perseverance of the HCL Foundation.”
In the December 2021 quarter, IT firm HCL Technologies posted a 13.6 per cent decline in its net profit to Rs 3,442 crore but said it had seen all-round “stellar performance” across verticals and geographies. The net profit had stood at Rs 3,982 crore in the October-December 2020 quarter (as per US GAAP).
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