HCLT reported strong IT services revenues.
- Revenue increased 3.5% QoQ in CC terms. IT services and ER&D revenues grew 5%+QoQ while P&P declined 8% QoQ
- EBIT margin declined 63 bps QoQ, 50 bps impact from lower P&P revenues
- P&P revenues are expected to be flat this year vs. earlier guidance of low single digit growth
Key triggers for future price performance
- The company continues to win multiyear deals in Cloud transformation, cyber security, etc
- Expects healthy double digit growth in revenues in FY22E mainly led by improved growth in IT & business services and ER&D
- With improvement in large deal wins, expansion in geographies, investment in sales & capabilities, we expect HCLT to register 13.2% CAGR in FY21-23E
For details, click on the link below: Link to the report
Shares of HCL Technologies Limited was last trading in BSE at Rs. 1250.90 as compared to the previous close of Rs. 1265.70. The total number of shares traded during the day was 473122 in over 27010 trades.
The stock hit an intraday high of Rs. 1293.00 and intraday low of 1244.35. The net turnover during the day was Rs. 595406956.00.