HCL Tech, the IT giant, just delivered a smashing quarter, sending its shares soaring over 5% on Monday morning. As they announced an unexpected increase of profits last quarter, investors and FIIs are buoyed by the results, and are firing all cylinders to buy HCL shares.
Their profits jumped 6% year-over-year, beating analyst expectations and proving they’re back in the game.
Here’s their scorecard:
- Net profit: Up 6% to Rs 4,350 crore, in the last 90 days of Q3, which is being hugely appreciated by the market and the investors.
- Revenue: Climbed 6% to Rs 28,446 crore, keepin’ the cash flow strong.
- Future forecast: Expecting 5-5.5% constant currency revenue growth for the year, with margins between 18-19%. Sounds promising!
- New deals galore: Bagged a cool $1.9 billion worth of fresh contracts, including 18 biggies. That’s an impressive track record from the IT behemoth, especially since Infosys and other major IT firms are reporting losses and reduced business.
- Growing team: Welcomed 3,617 new employees, bringing the total headcount to 224,756. They’re hiring freshers too! Almost 3900 freshers were on-boarded by HCL during this period.
- Lower attrition: Good news for HCL, their annualized employee churn rate dropped to 12.8%. This translates to happy employees, and encouraging business sentiments.
No wonder investors are cheering:This strong performance shows HCL Tech is firing on all cylinders, and the future looks bright. Of course, there’s always a bit of risk in the market, so remember to do your own research before making any investment decisions.
But for now, let’s raise a virtual glass to HCL Tech’s impressive quarter!
