HCL Tech Q3 Results: IT Company Boosts 31% In Net Profit

HCL Tech Q3 Results: IT Company Boosts 31% In Net Profit, Revises Fourth Quarter Growth Estimates.
 
 
In the December quarter, IT sector-major HCL Technologies posted a net profit of 31.1 percent to Rs 3,982 crore. HCL Technologies has given this information in the regulatory filing.
 
The company has reported that the total income of company increased by 6.4 percent to Rs 19,302 crore in the quarter under review.
 
This resulted in a revenue of Rs 18,135 crore for the company in the same quarter of the previous financial year. On a quarterly basis, the company saw a 26.7 percent jump in net profit in the December quarter.
 
At the same time, the company’s income increased by 3.8 percent. The company has informed the stock markets that it had a net profit of Rs 3,142 crore in the September quarter.
 
At the same time, it earned Rs 18,594 crore in the September quarter. HCL Technologies revised its target of quarterly growth for the fourth quarter to 2-3 percent. Earlier, the company had targeted growth of 1.5-2.5 percent on a quarterly basis for the third and fourth quarters.
 
HCL Technologies President and CEO C Vijayakumar said that the company achieved good revenue growth on a quarterly basis in the third quarter of FY 2020-21. He said that the company has performed well due to strong performance in digital, cloud, and products and platform segments.
 
IT companies continue to perform well in Corona-affected FY 2020-21. Earlier TCS, Infosys, and Wipro have also reported strong performance in profits. The company’s board of directors has announced an interim dividend at the rate of four rupees per share for the financial year 2020-21.
 
Talking about the calendar year, the company’s revenue in 2020 was above the $ 10 billion marks. In this way, the company has grown by 3.6 percent on an annual basis.

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