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Thursday, February 25, 2021

HCL Tech Q3 net surges by 31%

The IT services major, which had registered a net profit of Rs 3,037 crore in the year-ago period, has also crossed the $10 billion revenue milestone in CY2020.

By: ENS Economic Bureau | New Delhi |
January 16, 2021 1:06:01 am
HCL Tech picks seven software products from IBM for $1.8 billionHCL Tech’s revenue grew 6.4 per cent to Rs 19,302 crore in the quarter under review, from Rs 18,135 crore in the year-ago period (as per US GAAP).

HCL Technologies on Friday posted a 31.1 per cent rise in its December quarter net profit at Rs 3,982 crore on the back of strong momentum in its digital, products and platform segment, and exuded confidence in clocking further acceleration in bookings in the coming quarters.

The IT services major, which had registered a net profit of Rs 3,037 crore in the year-ago period, has also crossed the $10 billion revenue milestone in CY2020.

HCL Tech’s revenue grew 6.4 per cent to Rs 19,302 crore in the quarter under review, from Rs 18,135 crore in the year-ago period (as per US GAAP).

The company recorded revenue growth at 3.5 per cent quarter-on-quarter in constant currency, beating its own estimate of 1.5-2.5 per cent growth for the December quarter.

Revenue up 6.4%

# HCL Tech’s revenue grew 6.4 per cent to Rs 19,302 crore in the quarter under review, from Rs 18,135 crore in the year-ago period.

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