HCL Tech Q4 Net Profit Sees 15% Jump

HCL Technologies reported a 15.3 percent increase in its profits for the fourth quarter (Q4) of the financial year 2018-19 at Rs 2,568 crore, on a year-on-year (YoY) basis. When compared to the previous quarter, a 1.7 percent decline was observed.

The Noida-based IT company's revenues rose by 1.9 percent from the December quarter and 21.3 percent from March 2018 to Rs 15,990 crore. In constant currency terms, revenues were up by 3.3 percent on a quarter-on-quarter (QoQ) basis and 15.3 percent on a year-on-year basis. In dollar terms, it stood at $2,278 million for the March-2019 ended quarter, up by 3.5 percent QoQ and 11.8 percent YoY.

Its operating margin, in the quarter under review, dipped to 18.9 percent, down from 19.6 percent in December.

HCL Tech expects its revenues to grow between 14 to 16 percent in constant currency terms for the financial year 2019-20, which translates to 13.4-15.4 percent in dollar revenue. In 2018-19, revenue growth rose by 11.8 percent in constant currency.

Further, the company pegs an EBIT (earnings before interest and taxes) margin for FY20 at the range of 18.5-19.5 percent.