HCL Tech's quarterly net profit rose 23% to Rs 3154 crore

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(Commercial Representative) Mumbai Ta. 07 May 2020, Thursday

IT giant HCL Technologies Ltd has reported better results than expected for the fourth quarter ended March 31, 2020. On a consolidated basis, the company's net profit rose 2.6 per cent to Rs 512 crore from Rs 5 crore in the year-ago period. This is an increase of 2.4 per cent over the third quarter.

Total revenue rose 12.5 per cent to Rs 12,60 crore from Rs 12,60 crore. This is an increase of 3.4 per cent over the third quarter. In dollar terms, the company's revenue rose 11.5 per cent to ૩૪ 25 million from 25 million. Ebitda margin has increased by 120 basis points from 12.1 per cent to 20.50 per cent. The company has signed 12 transformational deals in the fourth quarter. The deals include acquisitions in verticals such as telecom, high-tech, retail and CPG, manufacturing and financial services. The company has not disclosed the amount of deals.

The company said it had activated Corona's virus business continuity plan at the end of January. About 5 per cent of the company's employees are currently working from home and 4.5 per cent are working from HCL or its customer locations. The company’s president and CEO c. Vijayakumar said the company is confident that with its capabilities, balanced portfolio, strong customer relationships and financial strength it will be able to come out of this crisis with strength.

The company added 150 new employees in the fourth quarter, bringing the total strength to 140,8.

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