HCL Tech reports 20% rise in Q3 net profit

HCL Technologies on January 12 reported a 20 percent rise in its consolidated net profit for the quarter ended December 2022 (Q3FY23) at Rs 4,096 crore as against Rs 3,442 crore a year back.

Its consolidated revenue from operations increased 19.61 percent to Rs 26,700 crore against Rs 22,321 crore in the corresponding quarter last year, the company said in an exchange filing.

The numbers beat estimates as according to a poll of brokerages, consolidated revenue was expected to come in Rs 26,026 crore, up 16.6 percent year-on-year (YoY) growth, while consolidated profit after tax (PAT) was estimated to increase 10.6 percent YoY to Rs 3,796 crore.

Revenue in terms of constant currency was up 5 percent sequentially and 13.1 percent year-on-year (YoY).

The company said it won 17 large deals during the quarter – seven in the services segment and 10 in software. The total contract value (TCV) of new deal wins was at $2.35 billion, up 10 percent YoY.

Detailed results, https://www.hcltech.com/investors

Moneycontrol