HCL Tech Revenue: Profit increased by 20%, declared dividend of Rs 10 per share – mssewb.org

HCL Tech Revenue : Good news for the shareholders of HCL Technology. Because, over all accounts, the company’s profit has increased by 20 percent. Which is Rs 4,096 crore from Rs 3,442 crore a year ago. This was reported by the company in its report for the quarter ended December 2022 (Q3FY23) on January 12. Along with this, the company has declared an interim dividend of 10 taka per share. Income from operations rose 19.61 percent to Rs 26,700 crore compared to Rs 22,321 crore in the same quarter last year.

This profit of the company exceeded all expectations. As, brokerages had expected, the consolidated revenue would be Rs 26,026 crore. Which is a year-on-year (YoY) growth of 16.6 percent. Whereas consolidated profit after tax (PAT) was estimated to grow by 10.6 percent. The company won 17 major deals in the half—seven in IT services and 10 in software, the company said. The total value of new contracts was $2.35 billion, up 10 percent year over year. The Board of Directors also declared an interim dividend of Rs 10 per equity share for FY23. The record date is set as January 20. The payment date is set for February 1, 2023.

HCL Tech said EBIT margin rose 165 bps sequentially to 19.6 percent in the quarter. Net margin stood at 15.3 percent, up 117 bps sequentially. HCL Tech delivered a strong performance in the quarter across all key metrics – revenue growth, margin expansion, booking growth and people metrics, the company said. It has grown by 15.4 percent year-on-year.

For FY23, the company has indicated that the revenue collection rate will be in the range of 13.5-14 percent. It is also reported that the EBIT margin will decline to around 18-18.5 percent. The trailing-twelve-month attrition rate, which is a measure of employees voluntarily leaving the company, was 21.7 percent, down from 23.8 percent in the September quarter and up from 19.8 percent in December last year.

The company added 2,945 employees overall during the quarter. As a result, the total workforce stands at 2,22,270. 5,892 freshers added this quarter.

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