HCL Earned Rs 39 Crore/Day In Last 90 Days! Profits Increase By Record 226% To Rs 3593 Crore

HCL Earned Rs 39 Crore/Day In Last 90 Days! Profits Increase By Record 226% To Rs 3593 Crore
HCL Earned Rs 39 Crore/Day In Last 90 Days! Profits Increase By Record 226% To Rs 3593 Crore

HCL has cemented its place once again as a top-tier IT services provider in the country.

Triple Digit Growth

It reported a whopping 226 percent growth in its consolidated profit after tax (PAT) at Rs 3,593 crore.

The figure stood at Rs 1,102 crore in the corresponding quarter a year ago.

The adjusted net profit last year stood at Rs 2,962 crore due to the impact of deferred tax credit and the one-time milestone bonus paid during Q4FY21.

The adjusted profit after tax for the quarter grew 21.3 percent year-on-year.

Profits rose sequentially by 4.4 percent from Rs 3,442 crore reported in the quarter ended December 2021.


The consolidated revenues grew 15 percent at Rs 22,597 crore as against Rs 19,642 crore in the year-ago period.

Revenues increased 1.2 percent on a sequential basis versus the Rs 22,331 crore reported during the previous quarter.

Revenue growth was driven by the IT services and ERD (Engineering and Research & Development) business.

Its P&P (Products & Platforms) business witnessed a decline due to seasonality.

Chief Executive Officer & Managing Director C Vijayakumar said that the company’s Services business has been growing consistently at 5 percent and higher over the last three quarters.

In dollar terms revenue for the quarter was reported to be $ 2,993 million with a YoY growth of 11 percent and a sequential growth of 0.5 percent.

Revenue By Verticals & Geographies

HCL’s services business crossed the $10-billion milestone, registering a growth of 14.9 percent YoY in CC for FY’22.

Its Engineering and R&D Services grew at 23.7 percent on year, driven by traction in digital engineering and IoT (Internet of Things) Works.

IT and Business Services during the quarter grew16.2 percent on year, propelled by acceleration in cloud transformation and application and data modernization.

Telecom, Media, Publishing & Entertainment grew by 20.2 percent on year.

Life Sciences & Healthcare vertical witnessed a YoY growth of 18.5 percent.

Manufacturing grew by 16.6 percent on year.

Technology & Services by 14.3 percent on year.

Financial Services witnessed a growth of 10.2 percent on year.

Geography-wise the company’s growth was led by Europe which grew 13.6 percent, America’s growth was 13 percent and the Rest of World returned a growth of 15 percent.

Human Resource

Its total workforce stands at 208,877 employees with a net hiring of 11,000 employees globally for the quarter and 39,900 for the full year.

23,000 entry-level freshers were hired during the year.

Women make up 28 percent of the global workforce.

Attrition on LTM (last twelve month) basis jumped to 21.9 percent as against 19.8 percent during the December quarter and 9.9 percent in the corresponding quarter last year.


The firm declared an interim dividend of Rs 18/- per equity share of Rs.2/- each with a record date of April 29, 2022.

This will be paid on May 11, 2022.

Chief Financial Officer Prateek Aggarwal said that with a dividend of Rs 18 per share for the quarter the payout for the year is going to be Rs 44 per share for the year, 88.4 percent of EPS, higher than the guided range of 75 percent.

FY23 Guidance

The company has given a guidance of 12 to 14 percent growth in revenues for FY23.

HCL stock closed Rs 9.8 or 0.9 percent up at Rs 1,099.20 at the NSE on April 21. 

The stock is down 5.9 percent in the past one month.

However, it generated returns of 14.35 percent in the past year.

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