HCL Technologies Ltd. Q2 FY12 net profit stood at Rs 5.73bn while revenues stood at Rs 52.45bn.
EBITDA for the reporting quarter stood at Rs 9.7bn.
Q2 FY12 Net Income was up 15.3% QoQ and 43.3% YoY.
The revenues for the October to December quarter were up 12.8% QoQ and 34.9% YoY.
EBITDA for Q2 FY12 was up 22.1% QoQ and 52.9% YoY.
Gross Margin for Q2 FY12 stood at 33.0% while EBITDA Margin was at 18.5%. That compares with Gross Margin of 31.5% in the preceding three months and EBITDA Margin of 17.1%.
The Earnings Per Share (EPS) for Q2 FY12 were at Rs 33.2 as against Rs 28.8 in the previous quarter and Rs 23.6 in the year-ago period.
The Company's Board of Directors today announced an interim dividend of Rs 2 per share; 36th consecutive quarter of dividend payout
Gross and& Net Employee addition stood at 7,804 and 2,556, respectively - taking total headcount to 83,076.
“As the uncertainty around economic environment continues, the world will demand companies to be deeply conscious of the accompanying social sensitivities. As economies contract and the job environment remains challenged, we at HCL are committed to creating local jobs, contributing to the welfare of local communities and pushing the pedal on enterprise philanthropy in continuing cognizance of our social responsibility”, said Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies.
Commenting on the results, Vineet Nayar, Vice Chairman & CEO, HCL Technologies said, “HCL continues to increase its market share both qualitatively and quantitatively by leveraging its multi-service capability. On the existing customer front, our Top 10 clients, all of which are Global\ Fortune 500 companies, have seen a growth of 4.9%, with 2 clients moving into the US$ 100 mn+ category. The Services Adoption Index of these customers is 3.4 out of 5 of HCL’s Service Lines. This combined with 18 new transformational deal wins bears testimony to the uniqueness of HCL’s business model in the current environment”.
“The sequential margin expansion of 150 bps and EBIT and EPS growth of 42.6% and 29.0% YoY respectively in this quarter is a result of our continued investment in business that has resulted in higher returns for our shareholders. Going forward, we remain watchful of the volatile currency movements and will continue with our layered hedging policy”, added Anil Chanana, CFO, HCL Technologies.
Multi-Year, Multi-Million Dollar Transformational Deals:
HCL Tech has won 18 multi-year, multi-million dollar deals this quarter, excluding HCL contract renewals. The total contract value for these 18 deals exceed US$1 billion.
These deals pan across all service lines covering sectors like BFSI, Healthcare, Aerospace, MPE, HiTech, Logistics, Telecom, Manufacturing etc.
In terms of value, Europe including UK led the list, followed by US and Asia. The customers with whom we signed these engagements include AstraZeneca, BD - a leading global medical technology company and CEVA.
Dipen Shah, Head- Fundamental Research, Kotak Securities said “HCLT’s results were marginally above expectations. The 4.9% volume growth was a positive surprise. Margin improvement was also better than our expectations. Addition of 57 new clients during the quarter is encouraging. We maintain positive on the medium – to – long term prospects of the company.”