EconomyHCL Tech reports 31 pc jump in Q3 profit...

HCL Tech reports 31 pc jump in Q3 profit at Rs 3,982 cr

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Noida (Uttar Pradesh) [India]: HCL Technologies on Friday reported a net income of Rs 3,982 crore for the quarter ended December 2020, up 26.7 percent quarter-on-quarter and 31.1 percent year-on-year.

The revenue increased by 3.8 per cent q-o-q and 6.4 per cent y-o-y to Rs 19,302 crore due to broad-based growth in segments and geographies.

The dollar revenue during the December quarter was at 2.6 billion, up 4.4 percent q-o-q and 2.9 percent y-o-y. The company has announced an interim dividend of Rs 4 per share.

HCL won 13 transformational deals across industry verticals including life sciences, healthcare, technology, and financial services in Q3 FY21.

The products and platforms business clocked healthy 9.3 percent y-o-y growth in constant currency on the back of strong new license sales and robust renewals.

Chief Strategy Officer Shiv Nadar said the technology sector is in the midst of a massive digitisation wave with more global enterprises embracing digital transformation to address the disruption of these unprecedented times.

“Technology has been a key enabler during the pandemic. As we stand at the cusp of the next phase of technological innovation, it is vital that we draw inspiration from each other’s strengths and offer back our own to create a positive impact,” he said.

“From delivering cutting-edge, agile solutions to our partners, to creating people-first initiatives, to building a sustainable and resilient ecosystem, we at HCL are committed to become a catalyst of positive change and the creation of relationships beyond the contract,” said Nadar.

President and CEO C Vijayakumar said the company’s performance was driven by robust momentum in our mode 2 and mode 3 businesses led by digital, cloud, and products

“Our results reflect the success of the strategic investments we have made over the years including unique ecosystem constructs with all cloud hyperscalers, organic and inorganic investments in a broad-based IP and platforms portfolio, and an enterprise digital transformation value proposition that is truly integrated and differentiated,” he said  — ANI

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