HCL Technologies Ltd Q3FY21 consolidated net profit jumps to Rs. 3969 crores

HCL TECHNOLOGIES LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.19491 crores during the period ended December 31, 2020 as compared to Rs.18793 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.3969 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.3143 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.14.63 for the period ended December 31, 2020 as compared to Rs.11.58 for the period ended September 30, 2020.

Financials	Q3 FY20-21	Q2 FY20-21	% Change
Total Income	₹ 19491 crs	₹ 18793 crs	3.71%
Net Profit	₹ 3969 crs	₹ 3143 crs	26.28%
EPS	₹ 14.63	₹ 11.58	26.34%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.19491 crores during the period ended December 31, 2020 as compared to Rs.18292 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.3969 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.2944 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.14.63 for the period ended December 31, 2020 as compared to Rs.10.85 for the period ended December 31, 2019.

Financials	Q3 FY20-21	Q3 FY19-20	% Change
Total Income	₹ 19491 crs	₹ 18292 crs	6.55%
Net Profit	₹ 3969 crs	₹ 2944 crs	34.82%
EPS	₹ 14.63	₹ 10.85	34.84%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.56421 crores during the 9 months period ended December 31, 2020 as compared to Rs.52531 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.10043 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.7885 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.37.01 for the 9 months period ended December 31, 2020 as compared to Rs.29.06 for the 9 months period ended December 31, 2019.

Financials	9 Months ended FY20-21	9 Months ended FY19-20	% Change
Total Income	₹ 56421 crs	₹ 52531 crs	7.41%
Net Profit	₹ 10043 crs	₹ 7885 crs	27.37%
EPS	₹ 37.01	₹29.06	27.36%

"The technology sector is in the midst of a massive digitization wave, with more global enterprises embracing digital transformation to address the disruption of these unprecedented times. Technology has been a key enabler during the pandemic, and as we stand at the cusp of the next phase of technological innovation, it is vital that we draw inspiration from each other's strengths and offer back our own to create a positive impact. From delivering cuttingedge, agile solutions to our partners, to creating people-first initiatives, to building a sustainable and resilient ecosystem, we at HCL are committed to become a catalyst of positive change and the creation of relationships beyond the contract." said Shiv Nadar, Chief Strategy Officer, HCL Technologies Ltd.

"We posted a strong financial performance in Q3 FY'21 with a constant currency revenue growth of 3.5% sequentially and 1.1% YoY and an EBIT of 22.9%. This solid performance was driven by a robust momentum in our Mode 2 and Mode 3 businesses led by Digital, Cloud and Products & Platform segments. Our results reflect the success of the strategic investments we have made over the years including unique ecosystem constructs with all Cloud Hyperscalers, organic and inorganic investments in a broad-based IP and Platforms portfolio and an enterprise digital transformation value proposition that is truly integrated and differentiated", said C Vijayakumar, President & CEO, HCL Technologies Ltd.

"I am also delighted to share that we crossed $10 B in revenues in 2020. This is a pivotal milestone for us as a company and is a result of HCL's vision, our employees' passion and disciplined execution", he added.

"It feels good to have crossed the US$ 10 Billion Revenue milestone LTM. In CY20, we have delivered 3.6% growth YoY, both in US$ terms and in constant currency. For CY 20, we delivered EBITDA (as per Ind AS) at 27.4% and Net Income Margin at 17.8% ( Rs. 13202 Cr) ; For the quarter Q3'FY21, it is noteworthy that our EBITDA (on Ind AS basis) stood at 29.1% and Net Income Margin at 20.6% ( Rs. ~3982 Cr) . Cash generation continues to be very robust. During CY 20, our Operating Cash generation was US$ 2,667 mn and Free Cash Flow was US$ 2407 mn, having increased 63.5% and 82.8% respectively on YoY basis. LTM EPS now stands at Rs. 48.7 and "Cash EPS" at Rs 62.2." said Prateek Aggarwal, CFO, HCL Technologies Ltd.

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.1027.75 as compared to the previous close of Rs. 1055.5. The total number of shares traded during the day was 771479 in over 17049 trades.

The stock hit an intraday high of Rs. 1055 and intraday low of 1006.65. The net turnover during the day was Rs. 801988961.

Source : Equity Bulls

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