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HCL Tech Posts Healthy Broad Based Q3 Performance; Resilient Business Outlook, Says Axis Securities

HCL Tech Posts Healthy Broad Based Q3 Performance; Resilient Business Outlook, Says Axis Securities

The cafeteria at the HCL Technologies Ltd. Jigani campus in Bengaluru, India. (Photographer: Samyukta Lakshmi/Bloomberg)
The cafeteria at the HCL Technologies Ltd. Jigani campus in Bengaluru, India. (Photographer: Samyukta Lakshmi/Bloomberg)

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.

Axis Securities Report

HCL Technologies Ltd. reported strong broad based growth in Q3 FY21, revenue stood at Rs 19,302 crore up 4.4% QoQ and 2.9% YoY in constant currency terms.

Operating profit showed a growth of 9.9% QoQ at Rs 1,968 crore, operating margin expanded by 130 basis points QoQ at 22.9% than previous quarter aided by strong execution, higher utilisation and lower travel cost.

Net profit for Q3 FY21 stood at Rs 3,982 crore reported a growth of 26.7% QoQ.

The company won 13 transformational deals in this quarter. Deal wins for the quarter remained strong and showed a growth of 13% QoQ.

Click on the attachment to read the full report:

Axis Securities HCL Tech Q3FY21 Result Update.pdf

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