BENGALURU: IT firm HCL Technologies on Thursday, beating estimates, reported a 226% Y-o-Y jump in consolidated net profit at Rs 3,593 crore for the March quarter. The company had posted Rs 1,102 crore net profit in the same quarter last year.
“Net income of Q4 FY21 and full year FY21 excludes the impact of onetime milestone bonus paid to employees. The stellar growth in net income is after excluding the impact of one timers like the milestone bonus of $ 78.8 million and DTL on goodwill of $165.1 million, last year,” HCL said.
Its revenue from operations stood at Rs 22,597 crore, a 15% increase, compared to Rs 19,641 crore in the year-ago quarter. Total revenue for full fiscal year FY22 rose 14% to Rs 85,651 crore compared to Rs 75,379 crore in FY21. The IT firm’s EBIT margin was at 18.9% in FY22.
For the full year FY22, TCV (total contract value) of new deal wins at $ 8,308 million, registering 14% Y-o-Y growth. Its services revenue crossed the $ 10 billion milestone and registered a growth of 14.9% Y-o-Y for FY22.
“Our core beliefs of innovation and collaboration, driven by a strong faith in humanitarian values, have stood us well in these fast-changing times,” said Roshni Nadar Malhotra, Chairperson, HCL Technologies.
The company also added 39,900 employees during FY22, up by 23.6% Y-o-Y, and its net additions during the fourth quarter was at 11,100, up 5.6% sequentially. HCL projected revenue to grow between 12% and 14% in constant currency in FY 2023, and EBIT margin expected to be between 18% and 20%.