HCL Technologies Thursday reported fourth-quarter net income of ₹3,593 crore, more than triple a year-on-year increase. Net profit for the January-March 2021 quarter was 1,102 crore
The company said it expects revenue to grow 12% to 14% in the current fiscal year due to “strong momentum” across all industries.
The company reported £1,102 billion in net income for the January-March 2021 quarter.
Revenue rose 15% to 22,597 crore.
For full year FY22, HCL said net profit rose 4.3% to £13,499 billion and revenue rose 13.6% to £85,651 billion. It was noted that for comparison purposes, fourth quarter and full fiscal year 21 net income did not include the impact of the one-time bonus paid to employees.
“We delivered another outstanding quarter in our services business, where currency-neutral revenue increased 5% quarter-on-quarter and 17.5% year-on-year,” said C. Vijayakumar, Chief Executive Officer & Managing Director, HCL Technologies Ltd. “Over the last three quarters, our Services business has consistently grown organically at +5% and has achieved one of the highest CAGRs in the industry.”
He added that overall growth comes in at 12.7% on a YoY basis, beating forecast led by strong momentum in digital, cloud and engineering services. “We continue to proactively invest to create a larger talent pool to meet demand,” added Mr. Vijayakumar.
HCL Technology expects FY23 revenue growth of between 12% and 14% in constant currency and an EBIT margin of between 18% and 20%, “based on the fairly strong momentum the company has experienced over the last three quarters.”
Mr. Vijayakumar noted that the company was providing guidance until last year when the guidance was more directional, but given all the uncertainties, the company wanted to make things easier for investors and provide a more accurate guidance this year. “The demand environment remains quite resilient… we are quite confident and that has allowed us to provide guidance for the coming year.”
The company’s board also announced a dividend of £18 per share for the quarter, bringing the payout for the year to £44 per share for the year.
The company said it has seen strong customer growth across all categories. “On an annual basis, $100M+ customers by 1, $50M+ customers by 8, $20+ customers by 22, $10+ customers by 30, and $5M+ customers by 31, more than USD 1 million customers increased by 73,” it said.
Total workforce at the end of March 2022 was 2,08,877 employees with a net increase of 39,900 employees for the year, an increase of 23.6% year-on-year and a net increase of 11,000 for the January-March 2022 quarter.
