BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
HCL Technologies Ltd. reported weak numbers on the margins front. Revenues at the company level in constant currency grew 7.6% QoQ while U.S. dollar revenues increased 6.7% QoQ to $2,978 million. Revenues in rupees have risen 8.1% QoQ to Rs 22,331 crore.
Business wise, IT services, engineering and research and development, products and platform grew 4.7%, 8.3%, 24.5%, respectively, QoQ in CC terms.
Revenues growth was aided by financial services, manufacturing, technology services, which grew 6.3%, 5.7%, 14%, respectively, QoQ in CC terms. In terms of geographies, it was broad based across geographies where Europe, Americas, rest of world grew 9.1%, 7.3%, 4.5%, respectively, QoQ in CC terms.
The management reiterated double digit revenue guidance for FY22 and 19- 21% Ebit margin for FY22. HCL Tech indicated that 65 bps margin impact for the quarter (due to seasonal leaves) would not be recurring in nature but other factors may continue to impact for few quarters.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR