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The revenue of IT firm was up 19.6 per cent in quarter ending December 2022 (Q3FY23) as compared to quarter ending December 2021 (Q3FY22), the data released by the company showed. It recorded a revenue of Rs 26,700 crore in the quarter. On the sequential basis, the revenue was up 8.2 per cent. It also announced a dividend of Rs 10 per share.
The EBIT saw a growth of 22.8 per cent YoY and profit after tax (PAT) was up 19 per cent. The EBIT margin guidance narrowed to 18.0 per cent to 18.5 per cent.
“We are enthused with the overall well-rounded Q3 performance. Revenue at Rs 26,700 Crores is up 19.6 per cent YoY, on the back of strong Services business growth of 22 per cent YoY. During the quarter, we crossed important milestones of Rs 5,000 Crores and Rs 4,000 Crores for EBIT and PAT respectively for the very first time. Profitability was at all-time high with EBIT at Rs 5,228 Crores (up 22.8 per cent YoY) and PAT at Rs 4,096 Crores (up 19 per cent YoY). ROIC stands at solid 30 per cent and 37 per cent for the Company and Services business, respectively,” said Prateek Aggarwal, chief financial officer at HCLTech.
On constant currency basis, the revenue was up 13.1 per cent year-on-year (YoY). On sequential basis, it was up 5 per cent.
“We have delivered a strong performance this quarter across all key metrics – revenue growth, margin expansion, booking growth and people metrics. Our strong revenue growth of 13.1 per cent YoY CC is led by our Services business which grew 15.4 per cent YoY CC; and strong revenue growth of 5.0 per cent QoQ CC is led by HCLSoftware. Our margins at 19.6 per cent this quarter, increased 60 basis points YoY,” said C Vijayakumar, CEO and MD of HCLTech.
The compnay added 2,945 new employees during the quarter, and the closing headcount was 222,270. The atrition rate in Q3FY23 stood at 21.7 per cent.
On NSE, the stocks of the company closed 1.68 per cent higher at Rs 1,072 apiece. On BSE, the share price of the company closed 1.62 per cent in the green at Rs 1,071.
During the quarter, the company bagged 17 large deals. 7 were in the service sector and 10 in the software business.
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