Financial Insights

HCL Tech Q4 results: profits jump 226%

HCL Technologies, one of India’s top IT services providers has announced a 226% YoY growth in consolidated profit after tax.

The figure for the year stood at Rs 3,593 crores against Rs 1,102 crores from the same quarter one year ago. Sequentially, the profit grew 4.4% from Rs 3,442 crores.

The consolidated revenues of the company saw a growth of 15% as the figure for this quarter was Rs 22,597 crores as opposed to Rs 19,462 crores last year. Growth was mainly fueled by IT services and R&D while the company’s Products and Platforms business declined.

For the full-year period from April – March, PAT increased by 21.1 percent to Rs 13,499 crore compared to a profit of Rs 11,145 crore reported in the previous financial year.Consolidated revenues at Rs 85,651 crore have risen by 13.6 percent compared to Rs 75,379 crore recorded in FY21.

“We have delivered yet another stellar quarter in our Services business, where the revenue is up 5.0 percent QoQ & up 17.5 percent YoY in constant currency. Over the last three quarters, our Services business has been consistently growing organically at 5 percent and higher, delivering one of the highest CQGR in the industry.” said C Vijayakumar, Chief Executive Officer & Managing Director.

Highlight by Aman Agarwal.

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