HCL Technologies December quarter net profit rises 13% to Rs 2,944 cr; company adds 11,502 employees in Q3

  • The company had registered a net profit of Rs 2,605 crore in the year-ago period as per Indian Accounting Standards

  • Its revenue from operations grew 15.5% to Rs 18,135 crore in the quarter under review, from Rs 15,699 crore in the year-ago period

  • Shares of the company on Friday closed at Rs 598.8 apiece, up marginally from their previous close on the BSE

New Delhi: IT major HCL Technologies on Friday posted a 13 percent rise in its consolidated net profit at Rs 2,944 crore for the December 2019 quarter.

The company had registered a net profit of Rs 2,605 crore in the year-ago period as per Indian Accounting Standards, HCL Technologies said in a statement.

Its revenue from operations grew 15.5 percent to Rs 18,135 crore in the quarter under review, from Rs 15,699 crore in the year-ago period.

 HCL Technologies December quarter net profit rises 13% to Rs 2,944 cr; company adds 11,502 employees in Q3

Representational image. Reuters.

The company has revised its revenue growth outlook to 16.5 -17 percent for 2019-20 from its previous forecast of 15-17 percent topline growth in constant currency terms.

HCL Technologies' board has declared a dividend of Rs 2 per share.

“We continue our stellar performance over the years and have now crossed a revenue run rate of $10 billion this quarter. Our revenues have grown 16.4 percent year-on-year in constant currency and we have delivered a strong 20.2 percent earnings before interest and taxes (EBIT)," HCL Technologies President and CEO C Vijayakumar said.

He added that within two quarters of its inception, HCL Software has already onboarded 4,600 customers.

"I am pleased that our results continue to validate and reinforce our growth, profitability and investment strategies," Vijayakumar said.

In dollar terms, the net profit grew 17.2 percent to $426.5 million for the December 2019 quarter, while revenue surged by 15.5 percent to $2.5 billion as compared to the year-ago period, as per the US Generally Accepted Accounting Principles.

The company added 11,502 employees (gross) during the quarter to take its total headcount to 1,49,173 at the end of the December 2019 quarter. Attrition on last 12-month basis stood at 16.8 percent.

The results were announced after trading hours. Shares of the company on Friday closed at Rs 598.8 apiece, up marginally from their previous close on the BSE.

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

Updated Date: Jan 17, 2020 19:11:19 IST