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08 March, 2021 12:32 IST
HCL Tech Q3 net profit rises 26.7%, crosses USD 10 bn revenue milestone in 2020
Source: IRIS | 15 Jan, 2021, 07.13PM
Rating: NAN / 5 stars.
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 HCL Technologies, one of the leading software exporters, on January 15 reported a 26.7% rise in consolidated profit for the quarter ended December 2020 at Rs 39,820 million compared with Rs 31,420 million in the last quarter and 31% year-on-year (YoY).

Consolidated Revenue for the quarter rose 3.8% to Rs 1,93,020 million, supported by broad-based growth in segments and geographies. Revenue stood at Rs 1,85,940 million in the September quarter.

Dollar revenue during December quarter stood at USD 2,617 million, up from USD 2,507 million in the second quarter of FY21.

The IT firm in the month of October 2020, had guided 1.5-2.5% revenue growth in constant currency for Q3 FY21 & Q4 FY21, while the FY21 EBIT margin guidance was also revised upwards to 20-21% from 19.5-20.5%.Earnings before interest, tax (EBIT) margin stood at 22.9% versus 21.6% QoQ.

The company's revenue also crossed USD 10 billion milestone in 2020, delivering 3.6% YoY growth in constant currency.

The company has won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.

The board of directors declared an interim dividend of Rs 4 a equity share for the on-going fiscal.The record date for the payment of the interim dividend has been fixed to Jan. 23, 2021. The payment date of the interim dividend shall be Feb. 8, 2021.

IT Services Attrition (LTM) was at 10.2%, down 667 bps on a YoY basis. Net additions stood at 6,597 during the quarter.

"We continue to see a strong pipeline and are confident of further acceleration of bookings in the coming quarters. Our Mode 2 and Mode 3 businesses did a lot of heavy lifting during the quarter. Mode 2 revenues delivered 25% yoy growth.The robust performance in Mode 2 is driven by digital and cloud businesses which reflects the relevance in the completeness of our enterprise digital transformation propositions. It has proved its mettle this quarter," said C Vijayakumar, President & CEO, HCL Technologies.

Shares of the company declined Rs 38.35, or 3.73%, to settle  at  Rs 989.40.  The total volume of shares traded  was  904,980 at  the BSE (Friday).

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