HCL records sequential increase in revenue and net profits

Business Finance Trending

This year, Covid-19 has brought such a disruption in the economy that only some of the many sectors of India are able to grow. And out of these very few sectors, one of the sectors is the IT sector. In India, IT firms are showing great growth, and one of the IT firms HCL announced its net profit for the quarter of September.

According to the reports, HCL has announced that it has incurred a profit of Rs 3,142 crore. According to the company HCL, this net profit has shown an 18.5 percent increase for this quarter.

IT firm HCL Technologies on Friday posted an 18.5 percent rise in September quarter net profit at Rs 3,142 crore. And if one compares, HCL’s last year’s net profit for the quarter of September then it was only Rs 2,651 crore, so, comparatively, HCL is showing good growth.

Along with the net profit, the revenue of the company HCL has also increased by about 6.1%. Last year in the September quarter the revenue of HCL was Rs 17,528 crores but this year HCL has announced revenue of about Rs 18,594 crores.

The company HCL has shown profits quarter by quarter in a sequence and this time it is 7.4% higher from Rs 2,925 crore. Also, HCL’s top-line profit has also increased by 4.2% from the June quarter in which it was Rs 17,841 crore.

In this second quarter also, HCL has been able to incur a profit and the company HCL is showing revenue growth quarter by quarter by almost 4.5% and the aim set by the company HCL was only 1.5% to 2.5%. And for the third and fourth quarters also HCL has set the aim for growth at 1.5% to 2.5% growth only.

“We have delivered a stellar Q2 performance with sequential revenue growth of 4.5 percent in constant currency and 21.6 percent EBIT margin,” HCL Technologies President and CEO C Vijayakumar said.

The reason that has been said behind this growth has been said to be the continued leadership in Digital Transformation and Cloud businesses and strong stability in the Products and Platforms segment.

“Our investments over the last few years in next-gen technologies have held us in good stead during these difficult times and position us strongly to leverage the emerging market opportunities,” Vijayakumar said.

The Board of Directors has pronounced a break profit of Rs 4 for each value share for the budgetary year 2020-21.

During the quarter, HCL marked 15 groundbreaking arrangements. Toward the finish of the September 2020 quarter, HCL had 1,53,085 representatives, while weakening for IT administrations (on a most recent year premise) was at 12.2 percent.

HCL Technologies Limited is an Indian worldwide data innovation (IT) benefits and counseling organization settled in Noida, Uttar Pradesh, India. It is an auxiliary of HCL Enterprise. Initially an innovative work division of HCL, it rose as an autonomous organization in 1991 when HCL went into the product administration business.

The organization has workplaces in 44 nations including the United Kingdom, United States, France, and Germany with an overall organization of R&D, “development labs” and “conveyance focuses”, and 147,123 representatives and its clients incorporate 250 of the Fortune 500 and 650 of the Global 2,000 organizations.