HCL Technologies Q2 Net Profit up 18.5% at Rs.3, 142 crore

HCL technologies on Friday posted an 18.5% upsurge in September quarter net profit at 3, 142 crores. The Hindustan Computers Limited (HCL) is an IT firm services and consulting company whose general headquarters is in Noida, India.

The IT firm’s revenue grew 6.1% quarter-on-quarter to Rs18, 594 crores in the quarter under review, from Rs.17, 528 crores in the corresponding quarter last year.

In a statement, HCL Technologies President and CEO C Vijayakumar said, “We have delivered a stellar Q2 performance with a sequential revenue growth of 4.5% in constant currency and 21.6 percent earnings before interest and tax (EBIT) margin. The statement extended to say, “Our investments over the last few years in next-generation technologies have held us in good stead during these difficult times and position us strongly to leverage the emerging market opportunities.

Moreover, on a sequence basis, the top line was higher by 4.2 percent from Rs.17, 841 crores in June 2020 quarter, while the net profit was 7.4% higher from Rs.2, 925 crores. Also, the IT firm HCL technologies major had registered a net profit of Rs.2, 651 crores in the July-September 2019 quarter as per the United States GAAP, as said in a regulatory filing.

Hindustan Technology Limited (HCL) technologies has therefore maintained its revenue growth guidance of an average of 1.5-2.5% increase quarter-on-quarter (q-o-q) in constant currency for the third and fourth quarter. The company has also recorded, in the second quarter, a revenue growth at 4.5 % quarter-on-quarter in the constant currency which is higher than its estimates of 1.5-2.5% sequential rise.

Lastly, the Board of Directors has announced an interim dividend of Rs.4 per equity share for the Financial Year (FY) 2020-2021.