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HCL Tech Q2 net profit up 4% to Rs 3,265 crore

Noida-based information technology (IT) company HCL Technologies on Thursday reported consolidated net profit of Rs.3,265 crore for the second quarter ended September, up about 4% year-on-year from 3,142 rupees. crore at the same time a year ago.

Consolidated revenue rose 11% to Rs 20,655 crore for the quarter under review, from Rs 18,594 crore in the July-September quarter of last year, the company said in a statement.

“The pandemic has accelerated the need to build a sustainable and scalable future and to invest in goal-oriented growth. The lessons learned have sharpened our adaptability and innovation and deepened our commitment to effecting positive change through technology… ”said Roshni Nadar Malhotra, President of HCL Technologies.

The company said second-quarter revenue growth was fueled by service revenues at 13% year-on-year in constant currency. Likewise, engineering and R&D services grew by around 13% year-on-year, thanks to the traction of digital engineering.

IT and business services also grew 13% year-over-year, thanks to the acceleration of application modernization and cloud transformation agreements, he said.

During the quarter, the company won large contracts, including 15 contracts over $ 100 million and 41 over $ 50 million.

“We had a good performance this quarter, marked by strong growth in our service portfolio led by Digital Business, Engineering and Cloud Services. We have had impressive customer additions across all categories, reflecting the high demand and relevance of our offerings across all of our customer groups. We signed 14 major new contracts resulting in net new orders of $ 2.3 billion, a 38% year-on-year growth, ”said C Vijayakumar, CEO and Managing Director of HCL Technologies.

In September, the company’s total workforce stood at 1,875,634, compared to 1,53,085 employees in September 2020.

“Our net employee addition reached an all-time high of 11,135 this quarter. Our strong pipeline and continued strong build-up of employees bodes well for the dynamics of our business going forward, ”added Vijayakumar.

HCL Technologies shares closed at Rs 1,250.90 each on BSE on Thursday, down 1.17% from the previous close.

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