NEW DELHI: HCL Technologies NSE -0.35% on Tuesday reported a 2.4% rise in consolidated revenue to Rs 3,283 crore in the June quarter, compared to Rs 3,205 crore in the same quarter a year ago.

Revenue for the quarter was Rs 23,464 crore, up 16.92% from Rs 20,068 crore in the corresponding quarter last year.

In line with usual expectations, the company maintained its FY23 revenue guidance at 12-14% in constant currency. The profit margin remained unchanged at 18-20 percent.

Ebit margin for the quarter was 17 percent compared to 18 percent in the March quarter and 19.6 percent in the year-ago quarter.

EBITDA margin was 21.2% against 22.4% in March and 25.2% in the June quarter last year.

The major IT company reported that the number of new transactions for the quarter reached $2.054 million, up 23.4% from the previous year. Of these, the total service contract value (TCV) was $1,950 million, including seven major transactions. TCV generated $104 million in revenue, including nine deals.

Our share is still at a record high, and our new orders are up 23.4% year over year thanks to a healthy mix of large and medium-sized firms. Our expenses are 17%. to increase our revenue in the future,” said Si Vijayakumar, CEO and Managing Director of HCL Technologies.

According to CFO Pratik Aggarwal, the quarterly high was a 19 percent increase in CC services. According to him, the growth of production and tires in the Group is 1.4 percent.

It brought the business down. With cash flow of $2,013 million and free cash flow (FCF) of $1,762 million at an OCF/NI ratio, our cash generation has been strong over the past twelve months. of 112 percent,” Aggarwal said. The Board of Directors of the company has approved a dividend of Rs 10 per share following the capital allocation policy.

HCL Tech Q1 PAT 3,283 KR, declared dividend of 10 rupees per share

Consolidated revenue was £23.464 billion, up 16.9% and 3.8% year on year. In dollars, the revenue was $3.025 million. The growth of fixed income from abroad was 2.7% in the first quarter of this year and 15.6% year on year.

Service provider HCL Technologies reported an 8.6% decline in consolidated revenue to £3.283 trillion for the quarter ended 30 June 2022 (Q1 23).

However, PAT recorded an increase of 2.4% year on year. The company’s board on Tuesday announced an interim dividend of £10 per share with a £2 dividend for fiscal year 23. The company’s plans are still at a high level.

Consolidated revenue was £23.464 billion, up 16.9% and 3.8% year on year. In dollars, the revenue was $3.025 million. The growth of fixed income from abroad was 2.7% in the first quarter of this year and 15.6% year on year. In addition, service revenue (ITBS and EMS) increased 2.3% in constant currency and 19% quarter-on-quarter.

Roshni Nadar Malhotra, Chairman of HCL Technologies, said: “As technology is central to life and business, HCL is accelerating the digital transformation process for its customers. We continue our growth strategy with a sense of purpose and responsibility to our partners and communities.”

In addition, S. Vijayakumar, Managing Director and Chief Executive Officer of HCL Technologies, said of the results: “We started FY23 on a positive note with regular revenue growth of 2.7% and 15.6% year over year. Our service business continues to grow. With the continued growth of 2.3% in constant currency and 19.0% in constant currency per annum, cloud adoption is driven by our digital engineering services and digital applications, a cross-cutting theme across all services and beyond.

” “Our new orders are up 23.4% year over year, with large and medium deals in keeping with our almost record-high portfolio,” Vijayakumar continued. Our margin was 17.0%. We have taken the right steps… here our income will increase.”

Year after year, HCL Tech has sent customers in all directions. In the first quarter of 2013, the number of customers over $100 million was 3, and the number of customers over $50 million and

HCL Tech shares hit a 52-week low as Q1 net profit misses estimates; Should I buy or sell?

Shares of HCL Technologies opened up 2% early on Wednesday, hitting a 52-week low after the company’s April-June financial results missed Street expectations…

Shares of HCL Technologies opened up 2% early on Wednesday, hitting a 52-week low after the company’s April-June financial results missed Street expectations. . HCL Tech reported an 8.6% decline in revenue to $3,283 million for Q1. The technology company announced a dividend of $10 per share from the company’s 2 rubles per share for this fiscal year. Shares of HCL Tech have fallen 21% this year, and benchmarks have underperformed. On Wednesday morning, HCL shares were down 2.47% at $905.

A quick look at HCL Tech’s Q1FY23 financial results

– Revenue increased by 16.9% to 23,464 million francs; It was up 3.8% in the quarter.

The IT and Business Services sector grew by 18.1% compared to last year. Meanwhile, engineering and research services increased by 23% compared to last year. “Consumer sentiment across categories is strong. YY, USD 100 million + 3 buyers, USD 50 million + 5 buyers, USD 20 million + 23 buyers, USD 10 million + 35 buyers, $ 5 million buyers + 27 customers, USD 1 million + 63 more customers,” HCL Technologies said.. It welcomed 6,023 new students in April-June. The company’s attractiveness ratio increased to 23.8% quarter on quarter in the 12 months, from 21.9% in March and 11.8% in the same quarter last year.

Analyst Opinion

HCL Tech’s poor results for the quarter were below expectations, said Mitul Shah, head of research at Reliance Securities. With a rising portion of its Mode 2 business, increased focus on ER&D services, and regular recovery contract wins, we anticipate HCL Technologies to report strong results. Currently, the amount of 1 year of purchase is $1,351,” he said. HCL Technology. Mitul Shah. Shares of HCL Tech traded at a 52-week low of $905 on Wednesday.

ICICI Securities reiterated a ‘hold’ rating on the stock and indicated a cautious outlook. “HCL Tech’s growth is weak and ahead of peers, it trades at a fair value of $894 at 17x to 16x (10-year average) FY24 EPS. Maintain rating,” he said.