HCL Technologies Q4 PAT up 226% to Rs3,593cr on higher deferred tax hit in Q4FY21

24 Apr 2022 , 11:52 AM

HCL Technologies Ltd reported 15.05% growth yoy in total revenues for the Mar-22 quarter on consolidated basis at Rs22,597cr.

On a sequential basis, the revenues were higher for the quarter by 1.19%. For the full year FY22, the revenues were higher by 13.65% at Rs86,718cr.

Dollar revenues were up 1.1% sequentially and 13.3% yoy in constant currency for Q4. Services revenues (ITES and ERS) were up 17.5% on yoy basis in constant currency terms.

Full year constant currency revenue growth guidance for FY23 has been pegged in the range of 12-14%. ITES services accounted for 73.5% of revenues with ERS accounting for the balance. Products and platforms had the best EBIT margins at above 24% followed by ERS and ITES in that order.

The consolidated net profit for Q4 was up 226% to Rs3,593cr, while the profits were up by 4.39% on a sequential basis. However, much of this aggressive growth in the quarter came from higher deferred taxes in the base quarter.

For the Q4 period, EBITDA margins stood at 22.3% and EBIT margins at 17.9%. HCL Tech has guided for EBIT margin expectations at 18-20% for FY23. TCV of new deal wins stood at $2.26 billion.

Net margins stood at 15.90% in Mar-22 quarter compared to 5.61% in Mar-21. The net profit margins were higher by 49 basis points on a sequential basis, compared to Dec-21 quarter.

Financial highlights for Mar-22 compared yoy and sequentially

	HCL Technologies
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 22,597.00	₹ 19,641.00	15.05%	₹ 22,331.00	1.19%
EBITDA (Rs cr)	₹ 4,069.00	₹ 3,281.00	24.02%	₹ 4,257.00	-4.42%
Net Profit (Rs cr)	₹ 3,593.00	₹ 1,102.00	226.04%	₹ 3,442.00	4.39%
Diluted EPS (Rs)	₹ 13.26	₹ 4.06		₹ 12.69
EBITDA Margins	18.01%	16.70%		19.06%
Net Margins	15.90%	5.61%		15.41%