HCL Technologies Q3 FY2022 net income drops by 13.6% to Rs 3,982cr

HCL Q3 FY2022 results : HCL Technologies has reported a net income of INR 3,442 crores ($458 million) for the third quarter of the fiscal year 2022 (Q3 FY2022) that ended 31 December 2021, which is a 13.6% decrease compared to INR 3,982 crores ($539.6 million) in Q3 FY2021.

In the previous quarter, that is Q2 FY2022, the Indian IT services company had a net income of INR 3,265 crores ($440.8 million).

HCL Technologies diluted earnings per share (EPS) in the reported quarter was INR 47.5 compared to INR 48.7 in the same quarter of the previous fiscal year.

The company’s Q3 FY2022 revenues were INR 22,331 crores ($2.97 billion), which is a year-over-year (YoY) increase of 15.7% compared to INR 19,302 crores ($2.61 billion) in Q3 FY2021. In Q2 FY2022, HCL Technologies’ revenues were INR 20,655 crores.

HCL Technologies Q3 FY2022 net income drops by 13.6% to Rs 3,982cr. Photo courtesy of Mohit Agarwal/Wikipedia.org.

C Vijayakumar — CEO and Managing Director of HCL Technologies, commenting on HCL Q3 FY2022 results, said: “We have delivered all round stellar performance this quarter with revenue growth of 7.6% in constant currency QoQ, the highest recorded in the last 46 quarters. Our Products & Platforms segment led the growth with 24.5% followed by Engineering and R&D Services with 8.3% and IT & Business Services with 4.7%, all in QoQ cc.

“Our future looks bright as we had a very strong net new booking of $ 2.1B, a 64% YoY increase. We also added more than 10,000 to our employee strength this quarter. I believe we continue to be in a vantage position to address sustained demand momentum as our investments on strategic priorities like digital, cloud & engineering capabilities and our talent development plans are showing strong returns.”