HCL Tech Q1FY22 Results: Net profit up 10 per cent at Rs 3214 cr; Know key highlights, DIVIDEND, FY22 GUIDANCE

HCL Tech Q1FY22 Results –HCL Technologies Limited on Monday posted net profit of Rs 3214 cr for the quarter ended June 30, which was higher by 9.9 per cent during the corresponding period in FY21. On the quarter-on-quarter (QoQ) basis net profit was up 8.5 per cent  In Dollar terms, the net income stood at USD 436 mn for Q1FY22, which was up 6.4 per cent on the QoQ and 12.8 per cent on the year-on-year (YoY) basis. HCL Technologies announced the results in its filing to exchanges.  

The Net Income margin was at 16 per cent for the reporting quarter.

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Meanwhile, the revenue stood at Rs 20,068 cr in Q1FY22, which was up 2.2 per cent on the QoQ basis while 12.5 per cent on the YoY basis. In Dollar terms, revenue stood at USD 2,720 mn, up 0.9 per cent QoQ and 15.5 per cent on the YoY basis. Revenue in Constant Currency was up 0.7 per cent QoQ  and 11.7 per cent YoY.  

EBITDA margin for the reporting quarter stood at 24.5 per cent while EBIT margin was at 19.6 per cent. 

The company also declared Dividend of Rs 6 per share, being 74th consecutive quarter of dividend pay-out, it said. 

Gross Cash stands at USD 2,584 mn and Net Cash at USD 2,053 mn at the end of June 30, 2021.  

HCL Tech Guidance 

Revenue expected to grow in double digits in constant currency for FY22. EBIT margin expected to be between 19 per cent and 21 per cent for FY22 

Corporate Highlights

1) Strong client addition continues (on YoY basis): $50 mn+ clients up by 8, $20 mn+ clients up by 11, $10 

mn+ clients up by 10, and $5 mn+ clients up by 6. 

2) IT Services attrition (on LTM basis) at 11.8per cent in Q1 FY’22 (down from 14.6per cent last year), reflective of the 

effectiveness of increased employee engagement initiatives and large scale upskilling programs. 

3) Total headcount at 176,499 with strong net Addition of 7,522 during the quarter. 

Financial Highlights (for the quarter ending June 2021) 

4. Strong Booking performance: Q1 TCV of New Deal wins at US$ 1664 mn registering 37per cent YoY growth 

enabled by 8 Large Services deal wins and 4 significant product wins. 

5. In Q1 FY’22, HCL’s revenue stood at US$ 2,720 mn delivering a revenue growth at 11.7per cent YoY in constant 

currency on back of strong performance led by Mode 2 that grew 29.0per cent YoY this quarter and also driven 

by 

– IT and Business Services grew by 13.0per cent YoY, led by Digital and Cloud transformation momentum 

– Engineering and R&D Services grew by 10.7per cent YoY, 

– Products & Platforms grew by 6.0per cent YoY. 

The stocks of HCL Tech ended at Rs 1001.90 on the NSE on Monday, down by 0.31 per cent.