HCL Technologies Q3 results : consolidated revenue for the quarter increased for the quarter increased by 3.8 percent to Rs 19,302 crore , driven by broad-based growth in segments and geographics.

India’s third-largest software services provider, HCL, on January 15 reported a 26.7 percent jump in consolidated profit for the quarter ended December 2020 at Rs 3,982 crore, versus Rs 3,142 crore in the previous quarter.

Consolidated revenue for the quarter increased by 3.8 percent to Rs 19,302 crore, driven by broad-based growth in segments and geographies. Revenue stood at Rs 18,594 crore in the September quarter.

Dollar revenue during December quarter stood at $2,617 million, up from $2,507 million in the second quarter of FY21.

Following the ease of COVID-19 concerns, the company in October last year had guided 1.5-2.5 percent revenue growth in constant currency for Q3 FY21 & Q4 FY21, while the FY21 EBIT margin guidance was also revised upwards to 20-21 percent from 19.5-20.5 percent.

HCL Technologies shares rises 16.6 percent in December quarter and 66.5 percent in compared to Nifty IT index’s 21.55 percent and 55 percent gain.

HCL Technologies revenue crosses 71,265 crores ( US$10 billion).It took just 9 months to cross its annual revenue target of $10 billion.

It has won 13 transformational deals across industry verticals, including Life Sciences and Healthcare, Technology and Financial Services.

Talking about equity shares Board of directors has declared an interim dividend of Rs 4 per equity sharesfor the financial year 2020-21.

The record date for the payment of the interim dividend has been fixed to January 23, 2021. The payment date of the interim dividend shall be February 8, 2021.

IT Services Attrition (LTM) was at 10.2 percent, down 667 bps on a YoY basis. Net additions stood at 6,597 during the quarter.

Earnings before interest, tax (EBIT) margin stood at 22.9 percent versus 21.6 percent (QoQ).