HCL Technologies Q1 net profit rises by 2.11 per cent to Rs 3281 crore

New Delhi [India], July 12 (ANI): HCL Technologies on Tuesday reported a consolidated net profit of Rs 3,281 crore for the first quarter of the current financial year as compared to Rs 3,213 crore recorded in the corresponding period of the previous year, posting year-on-year growth of 2.11 per cent.
The company’s consolidated revenue for the quarter ended June 30 rose to Rs 23,464 crore as compared to Rs 20,068 crore reported in the corresponding period of the last year, posting year-on-year growth of 16.92 per cent.
On a sequential basis, the company’s revenue rose by 3.83 per cent. HCL Technologies had posted revenue of Rs 22,597 crore in January-April 2022 quarter.
“We have started FY’23 on a strong note with an overall growth of 2.7 per cent QoQ and 15.6 per cent YoY in Constant Currency. Our services business continues to have robust growth momentum, growing at 2.3 per cent QoQ and 19.0 per cent YoY in constant currency, driven by our digital engineering and digital application services with cloud adoption being a horizontal theme across all services and verticals,” C Vijayakumar, CEO & Managing Director, HCL Technologies, said in a statement.
“Our new bookings grew 23.4 per cent YoY supported by a good mix of large and mid-sized deals and our pipeline remains near record high. Our operating margin came in at 17 per cent. We have put in place the right measures that will improve our profitability going forward,” he said.
“As technology becomes central to lives and businesses, HCL is accelerating the digital transformation journeys of its clients. We continue to pursue our growth strategy with a sense of purpose and responsibility toward our stakeholders and communities,” said Roshni Nadar Malhotra, Chairperson, HCL Technologies Ltd. (ANI)