India’s fourth largest software services exporter HCL technologies has announced its second quarter results ending 31st December 2014. Company’s Net Profit increased by 2.3% sequentially to Rs 1915 crore during October-December quarter of fiscal year 2015.
HCL technologies’s Revenue during October-December quarter increased 13% YoY to Rs 9283 crore as against revenue of Rs 8184 crore in same quarter last fiscal year. For quarter ended 30th September 2014 revenue was at Rs 8735 crore, increased 6.3 percent QoQ.
Gross Profit which is derived after taking out direct costs from revenue is at Rs 3434 crore for October-December quarter as against Rs 3145 crore in same quarter last fiscal year 2013, grew 9.2% year-on-year. For quarter ending September 2014 gross profit was at Rs 3213 crore, increased by 6.9 percent Quarter-on-Quarter.
Net profit of HCL Techonologies grew 28 percent Year-on-Year and 2.3 percent Quarter-on-Quarter to Rs 1915 crore compare to 1496 crore a year ago and Rs 1873 crore in quarter ending September 2014.
HCL’s Gross margin during Q2 FY 2015 is at 37% compared to 38.4% a year ago and 36.8% in previous quarter. Net income margin is at 20.6% as against 18.3% a year ago and 21.4% in previous quarter ending September 2014.
HCL board has recommended issue of bonus shares in the ratio of 1:1 and also declared dividend of Rs 8 per share.
Due to gross and net addition of 11734 and 4718 employees respectively during this second quarter, company’s total head count at the end of Q2 FY 2015 is at 100240.
HCL Technologies has added 45 new clients during Q2 FY 2015 to take its total clients list to 927.
Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies, said “The Global IT Industry is undergoing a seismic change as the scope of IT buying expands to capture adjacencies beyond IT. This is not only changing the contours of the traditional buyer as we know it but also bringing technology to the very center stage of organizational competitiveness. In such a scenario the balanced portfolio, integrated IT services and engineering capabilities of HCL have ensured that we remain service providers of choice for companies looking for business model transformation”.
Anant Gupta, President & CEO, HCL Technologies, said “We have posted yet another strong quarter with constant currency revenue growth of 6.2% QoQ and 16.2% YoY. Our continued focus in developing next generation propositions around Digitalization, Engineering Platform Services and Target Operating Model for Enterprise IT have allowed us to stay ahead of the innovation curve and gain significant market share in the Global IT services market”
Anil Chanana, CFO, HCL Technologies, said “The outstanding revenue growth this quarter has been accompanied by growth in net income (before extra-ordinary gains last quarter) of 7% QoQ and 27% YoY. We continue to do well in managing our working capital and delivered superior return on equity at 38% for Calendar year 2014. In order to expand the retail base, the Board has recommended issuance of bonus shares in the ratio of 1 share for every 1 share held”.
Financial results of HCL technologies – Rupees in Crore
|31st December 2014
||30th September 2014
||31st December 2013
|Net Income Margin