HCL Tech Q2 net profit up 18.5% at ₹3,142 crore

IT firm HCL Technologies on Friday posted an 18.5% rise in September quarter net profit at ₹3,142 crore. Its revenue grew 6.1% to ₹18,594 crore in the quarter under review, from ₹17,528 crore in the corresponding quarter last year. In the second quarter, HCL Technologies recorded revenue growth at 4.5% quarter-on-quarter in constant currency — higher than its estimate of 1.5-2.5% sequential rise. HCL Technologies has maintained its revenue growth guidance of an average of 1.5-2.5% increase quarter-on-quarter in constant currency for the third and fourth quarter. 

“We have delivered a stellar Q2 performance with a sequential revenue growth of 4.5% in constant currency and 21.6% EBIT margin,” HCL Technologies President and CEO C. Vijayakumar said. The Board of Directors has declared an interim dividend of ₹4 per equity share for the financial year 2020-21.

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