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Last Updated : Oct 16, 2020 11:27 AM IST | Source: Moneycontrol.com

HCL Tech Q2 net profit rises 7% at Rs 3,142 crore, declares 200% interim dividend

The Earnings before interest and tax (EBIT) margin was at 21.6 percent.

 
 
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IT player HCL Technologies has reported 7.3 percent QoQ jump in its September quarter net profit at Rs 3,142 crore. According to CNBC-TV18 poll the profit was expected at Rs 3,046 crore.

The company had reported net profit at Rs 2,925 crore in the quarter ended June 2020.

Rupee revenue rose 4.2 percent QoQ at Rs 18,594 crore against Rs 17,841 crore.

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The Earnings before interest and tax (EBIT) margin was at 21.6 percent (versus 20.5%, QoQ), which is at 5-year high.

The company has guided for Q3 & Q4 revenue. The constant currency revenue growth is seen at 1.5-2.5%, reported CNBC-TV18.

The FY21 EBIT margin guidance increased to 20-21% from 19.5-20.5%.

The dollar revenue growth stood at 6.4% at 2,507 million and company posted constant currency revenue growth at 4.5 percent.

The company has signed 15 transformational deals in the quarter ended September 2020.

The board of directors declared an interim dividend of Rs 4  per equity share of Rs 2 each of the company for the financial year 2020-21.

At 09:24 hrs HCL Technologies was quoting at Rs 843.70, down Rs 16.30, or 1.90 percent on the BSE.
First Published on Oct 16, 2020 09:19 am
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