HCL Tech posts 4% YoY rise in Q2 profit at Rs 2,651 crore, raises FY20 guidance to 15-17%

NEW DELHI: HCL Technologies on Wednesday reported a 4.4 per cent year-on-year (YoY) jump in net profit at Rs 2,651 crore in the September quarter. On sequential basis, the profit growth stood at 19.4 per cent.

Revenue for the quarter climbed 17.9 per cent YoY (or 6.7 per cent QoQ) to Rs 17,528 crore, the company said in a BSE filing.

In dollar terms revenue for the quarter jumped 18.4 per cent YoY (5.2 per cent QoQ) to $2,486 crore. In constant currency terms, revenue growth stood at 20.5 per cent, led by double digit growth across segments.


The company increased its revenue growth guidance to 15-17 per cent in Constant Currency terms from 14-16 per cent earlier. It retained its operating margin guidance for the year at 18.5-19.5 per cent.

IT and Business Services grew 17.4 per cent while Products & Platforms (up 57.9 per cent), Engineering and R&D Services (up 15 per cent) also gained on CC basis.

"HCL Software, a new business unit of HCL Products & Platforms, became operational in Q2, enhancing the
revenue contribution from Financial Services 22.4 per cent (up from 20.3 per cent in Q1), Retail & CPG 10 per cent (up from 9.5 per cent in Q1) and Telecommunications, Media, Publishing & Entertainment 8.4 per cent (up from 8 per centin Q1)," the company said.