HCL Tech Quarterly Results: Q2 FY2023 Earnings ANNOUNCED - HIGHLIGHTS, Leadership Commentary And More

HCL TECH Quarterly Results: Q2FY23 Results - HIGHLIGHTS

HCL Tech Quarterly Results: Q2FY23 Results - Leadership Commentary

Profit, Cash Flow and Dividend

• EBIT Margin at 18%, up 93 bps QoQ

 • Net Margin at 14.1%, up 13 bps QoQ

• EPS diluted (LTM) at ₹ 50.94, up 3.7% YoY

• Operating Cash Flow at 114% of Net Income (LTM)

• Dividend of ₹ 10/-, 79th consecutive quarter of dividend pay-out

Second Quarter FY 2023 Highlights

• Constant currency revenue up 3.8% QoQ & up 15.8% YoY

• INR Revenue of ₹ 24,686 Crore, up 5.2% QoQ & up 19.5% YoY

• USD Revenue of US$ 3,082 Mn, up 1.9% QoQ & up 10.4% YoY

• Services Revenue (ITBS and ERS) up 5.3% QoQ & up 18.9% YoY in Constant Currency

• Mode-2 Revenue up 30.9% YoY in Constant Currency

Information and Technology (IT) major HCL Technologies may report good performance in the second quarter of the financial year 2022-23 (Q2FY23), Zee Business senior research analyst Varun Dubey said, while stating that the overall IT sector is expected to report healthy numbers during July-September quarter of this fiscal.

Ahead of HCL Tech Results, Q2 FY2023 Earnings announcement, analysts had predicted that Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook.

Earlier, IT company HCL Technologies had said that it plans to hire 1,300 people in Mexico over the next two years, according to a statement. 

The move is expected to strengthen its current employee base of 2,400 people in that country.

HCL Tech outlined its expansion plans in Mexico at its 14-year anniversary celebration at Guadalajara, in Mexico and said "the company expects to hire 1,300 people in the next two years".

The IT firm will also be opening its sixth technology center in Guadalajara.

The new center will significantly expand its presence to serve its growing local and international client base across industries and will focus on creating next-generation digital solutions.

"In line with the company's hybrid operating model, the center will embrace an agile workplace," the statement said.

The company recently announced a digital transformation partnership with Cemex, a global construction materials company and an integrated IT Services partnership with Neoris, a leading global digital accelerator.

HCL Tech Share Price Today: Stock Movement as of 11.47 AM 

Earlier, IT company HCL Technologies had said that it plans to hire 1,300 people in Mexico over the next two years, according to a statement.  

The move is expected to strengthen its current employee base of 2,400 people in that country.

HCL Q2 FY2023 Results, Earnings Announcement Today: Date and Time 

Date: October 12, 2022 

Time: 5.30 p.m.