Shares of HCL Technologies slipped over 3 per cent in Monday s intra-day session after the IT major s March quarter results for the financial year 2020-21 (FY21) missed Street estimates across the board. Impacted by higher taxes and one-time bonus payment, the company on Friday reported a 6.1 per cent fall in its fourth-quarter net profit at Rs 2,962 crore. The profit was down 25.6 per cent on a sequential basis. The provision for tax nearly doubled sequentially in Q4 to Rs 1,191 crore. The March quarter revenue, meanwhile, was at Rs 19,642 crore, up 1.8 per cent sequentially and up 5.7 per cent on a year-on-year (YoY) basis. The Noida-based company expects FY22 revenue to grow in double digits in constant currency and expects an Ebit (earnings before interest and tax) margin between 19.0 per cent and 21 per cent.
‘Joining the $10 bn revenue club was a great milestone’
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NEW DELHI :
HCL Technologies Ltd reported robust December quarter earnings on the back of 13 major deals and a covid-induced demand for digital services. India’s third-largest software services company by revenue posted a net profit of ₹3,982 crore in the three months ended 31 December, up 26.7% from the previous quarter, and 31.1% from the year earlier. It also crossed the key milestone of $10 billion in annual revenue in 2020. In an interview, C. Vijayakumar, president and chief executive, HCL Tech, spoke about the strategic investments the company has made over the years and future plans. Edited excerpts:
HCL Tech Q3 Profit Jumps Nearly 27% To Rs 3,982 Crore; Firm Raises CC Growth Guidance moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.