HCL Tech hits 52-week low post Q1FY23 earning release

13 Jul 2022 , 03:15 PM

HCL Technologies Limited reported a 2.11% jump in its consolidated profit after tax (PAT) at Rs3,281 crore, compared to Rs3,213 crore reported in the corresponding quarter a year ago. Sequentially, the profit recorded a decline of 8.83% from Rs3,599 crore reported in the quarter ended March 2022.

The consolidated revenue of HCL Tech increased by 16.92% to Rs23,464 crore from Rs20,068 crore the previous year. Revenue jumped 3.83% sequentially compared to Rs22,597 crore reported in the previous quarter.

The company also announced a dividend of Rs10 per share.

The total contract value (TCV) of new deal wins for the quarter was $2.05 billion, representing a 23.4% yoy surge. Services TCV was $1.95 billion, owing to seven net new large deal wins, while products TCV was $104 million, owing to nine net new large product deal wins.

Company’s operating margin stood at 17%. While services business witnessed a robust growth momentum with a 2.3% sequential increase and 19% yoy jump in constant currency.

At around 3.20 PM, HCL Technologies was trading at Rs917.50 down by Rs10.55 or 1.14% from its previous closing of Rs928.05 on the BSE. The scrip touched day’s high and low of Rs931 and Rs905.20 respectively.