HCL Tech Q2 profit rises 18.5% to Rs 3,142 crore, outperforms projections

HCL Technologies has posted a strong set of numbers, outperforming the mid-quarter revenue growth guidance on the back of digital transformation and cloud businesses. The company has also announced salary hikes for all employees in two tranches.

In the second-quarter result announced on Friday, the company reported a net profit of Rs 3,142 crore, up 18.5 per cent from the same period in FY20. The net profit rose 7.4 per cent on a sequential basis.

The board declared an interim dividend of Rs 4 per equity share, fixing October 24 as the record date for payment.

The firm’s revenues grew 4.2 per cent to Rs 18,594 crore year on year and 6.1 per cent sequentially. The operating margin of the IT services provider improved 110 basis points sequentially to 21.6 per cent in the July-September period— a 22-quarter high.