HCL Tech Registers a Profit of ₹3,593 crore

On Thursday, one of the leading IT services companies in India, HCL Technologies released its last quarter results. It registered a net profit of Rs 3,593 crore for the quarter that ended on March 2022. The results are extremely good and struck an optimistic note about the "buoyant" market environment citing "strong momentum across verticals and service lines". Last year in the same quarter, the net profit was Rs 1,102 crore. HCL Technologies anticipates its revenue to increase between 12-14 percent in constant currency for fiscal 2023. Chief Executive Officer and Managing Director of HCL Technologies, C Vijayakumar, during the release of quarterly results, said that the market environment is "buoyant" and there is "strong momentum across verticals and service lines".

HCL Technologies revenue from operations for Q4 FY22 stands at Rs 22,597 crore, posting a growth of 15 percent from a year ago. Company In a statement, said, "For comparison purposes, net income of Q4 FY'21 and full year FY'21 excludes the impact of one-time milestone bonus paid to employees (USD 78.8 million, Rs 575 crore net of tax) and the DTL (Deferred Tax Liabilities) on Goodwill impact in the tax expense (USD 165.1 million, Rs 1,222 crore) in Q4 FY'21.”