HCL Tech reports 31% jump in Q3 profit at Rs 3,982 cr
IT firm HCL Technologies on Friday reported a net income of Rs 3,982 crore for the quarter ended December 2020, up 26.7 per cent quarter-on-quarter and 31.1 per cent year-on-year.
Its revenue grew 6.4 per cent to Rs 19,302 crore in the quarter under review, from Rs 18,135 crore in the corresponding quarter last year. On a sequential basis, net profit was 26.7 per cent higher from Rs 3,142 crore, while topline was higher by 3.8 per cent from Rs 18,594 crore in September 2020 quarter.
In the third quarter, HCL Technologies recorded revenue growth at 3.5 per cent quarter-on-quarter in constant currency - higher than its estimate of 1.5-2.5 per cent sequential rise. HCL Technologies has revised its sequential revenue growth guidance to 2-3 per cent in constant currency for the fourth quarter. Previously, the company had given a guidance of an average of 1.5-2.5 per cent increase quarter-on-quarter in constant currency for the third and fourth quarter.