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HCL Tech Q3 results: Profit rises 16% YoY to Rs 3,037 crore, beats Street estimates

HCL Tech's revenue rose 15.5 per cent to Rs 18,135 crore during the quarter under review.

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Last Updated: Jan 17, 2020, 04.56 PM IST
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HCL Tech Q3: Profit rises 16% YoY to Rs 3,037 cr
HCL Tech Q3: Profit rises 16% YoY to Rs 3,037 cr
HCL Technologies on Friday reported 16.31 per cent year-on-year (YoY) rise in consolidated profit at Rs 3,037 crore for the quarter ended December 31. It had posted a net of Rs 2,611 crore in the corresponding quarter last year. Analysts in an ET NOW poll had projected the number at Rs 2,757.90 crore.

Revenue increased 15.5 per cent to Rs 18,135 crore during the quarter under review.

Ebitda jumped 22.60 per cent to Rs 3,647 crore. EBIT margin stood at 20.20 per cent in Q3FY20 against 19.60 per cent in corresponding quarter period last year.

The board of the IT firm also declared an interim dividend of Rs 2 per equity and fixed January 27 as record date for the payment of the same. The payment date of the said interim dividend shall be February 4, 2020.

“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 per cent YoY in constant currency terms and we have delivered a strong 20.2 per cent EBIT. Within two quarters of its inception, HCL Software has already onboarded 4,600 customers.” said C Vijayakumar, President & CEO.

HCL chart

The company sees revenue growth between 16.5 per cent and 17 per cent in constant currency terms in FY20, while operating margin will be in the range of 19-19.50 per cent.

HCL Technologies said its cash generation was strong, with operating cash flow above $700 million and free cash flow above $650 million. Net Cash was now at $ 1.1 billion.

Shiv Nadar, Chairman & Chief Strategy Officer of HCL Technologies, said: “We have stepped into the new decade of innovation and reinvention. It is time to re-emphasise our focus on emerging technologies and prepare ourselves for the next phase of disruption. It must be our utmost goal to build technologies that strengthen the ecosystem, benefit all stakeholders and create better opportunities in the value chain.”

In terms on Indian Accounting Standard, HCL reported 13.01 per cent yearly rise in profit at Rs 2,944 crore during the December quarter.

HCL Headcount

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