HCL Q1 FY2022 results : Indian IT firm net income up by 9.9% to Rs 32.1bn

HCL Q1 FY2022 results : HCL Technologies has reported a net income of INR 32.14 billion ($436 million) for the first quarter of the fiscal year 2022 (Q1 FY2022) that ended 30 June 2021, which is a 9.9% increase compared to INR 29.2 billion ($390 million) reported in Q1 FY2021.

In the previous quarter, that is Q4 FY2021, the Indian IT services company had a net income of INR 23.87 billion ($320 million).

HCL Technologies diluted earnings per share (EPS) in the reported quarter was INR 49.00 compared to INR 43.4 in the same quarter of the previous fiscal year.

The company’s Q1 FY2022 revenues were INR 200.68 billion ($2.7 billion), which is a year-over-year (YoY) increase of 12.5% compared to INR 178.41 billion. In Q4 FY2021, HCL Technologies’ revenues were INR 196.4 billion.

HCL Q1 FY2022 results : Indian IT firm net income up by 9.9% to Rs 32.1bn. Photo courtesy of Mohit Agarwal/Wikipedia.org.

C Vijayakumar – CEO of HCL Technologies, commenting on HCL Q1 FY2022 results, said: “With the second wave of the COVID-19 pandemic across India, we remain sharply focused on protecting the wellbeing of our employees and their families. Extensive support services were provided to the families on a war footing, while our employees and clients rallied to support each other despite all odds.

“We posted 11.7% YoY revenue growth in constant currency and 29.0% YoY growth in Mode 2 services in constant currency headlined by Cloud and Digital transformation deals. We remain very confident of a good QoQ growth for the rest of this year, enabled by 37% YoY growth in bookings and 7,500+ net hiring this quarter.”