IT major HCL Technologies on Wednesday posted a 7.1 percent rise in its Q2 FY23 consolidated net profit at Rs 3,489 crore over the same quarter a year ago, the company said in a filing.
The revenue has increased by 19.5 per cent year-on-year.
Sequentially, its profit grew 6.3 percent from the June 2022 quarter. It reported a 5.2 per cent sequential rise in consolidated revenue for the September quarter to Rs 24,686 crores.
Both revenue and profit were above analysts’ average estimate of 24,382 crore and 3,418 crore, respectively.
Meanwhile, the board of directors have approved a dividend of Rs 10 per share.
The company raised its revenue growth guidance for FY23. HCL Tech now sees 13.5-14.5 per cent growth in revenue in constant currency, against 12-14 per cent projected earlier.
However, the company reduced the upper end of its EBIT margin guidance for FY23. It now sees margins in the 18-19 per cent range against 18-20 per cent earlier. The company expects services revenue to grow 16-17 per cent on year in constant currency terms in FY23.
In constant currency terms, HCL Technologies’ revenue in the second quarter rose nearly 16 per cent on the year and 3.8 per cent sequentially.
In constant currency terms, HCL Technologies’ revenue in the second quarter rose nearly 16 per cent on the year and 3.8 per cent sequentially.
The TCV deal bookings for the quarter rose 6% on year and 16% sequentially to $2.38 billion. The software major bagged 11 large deals in the quarter, with eight of them in the services vertical.
“Our bookings and pipeline continue to be very strong that augurs well for our future growth,” C Vijayakumar, MD and CEO, was quoted as saying in the release.
