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    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
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Delayed NSE India Stock Exchange  -  07:25 2022-08-12 am EDT
956.40 INR   -0.62%
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HCL Technologies Fourth Quarter Profit Jumped on Services Growth

04/21/2022 | 10:48pm EDT

By Ben Otto


HCL Technologies Ltd.'s fiscal fourth-quarter net profit jumped on higher revenue, led by growth in its IT and business services segment and the absence of one-off expenses.

The Indian information-technology services provider said late Thursday that net profit for the quarter ended March more than tripled to 35.93 billion rupees (US$471.1 million) from INR11.02 billion a year earlier, largely because of the absence of a one-time bonus paid to employees and deferred tax liabilities booked in the same period a year earlier.

On an adjusted basis that excludes those charges, net profit was 24% higher on year. Revenue in the quarter rose 15% to INR225.97 billion as business grew in Europe, the Americas and other areas of operation.

For the full fiscal year, net profit rose 21% to INR134.99 billion, or growth of 4.3% on the adjusted basis. Full-year revenue rose almost 14% to INR856.51 billion.

The Noida-based company said it made a net addition of 11,100 employees during the quarter, bringing full-year net additions to 39,600 and overall headcount to almost 210,000 at the end of March.

Going forward, it said it expected revenue to grow 12%-14% in constant currency in fiscal-year 2023, with Ebit margin at 18%-20%.


Write to Ben Otto at ben.otto@wsj.com


(END) Dow Jones Newswires

04-21-22 2247ET

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Financials
Sales 2023 983 B 12 352 M 12 352 M
Net income 2023 140 B 1 762 M 1 762 M
Net cash 2023 174 B 2 186 M 2 186 M
P/E ratio 2023 18,6x
Yield 2023 4,31%
Capitalization 2 605 B 32 734 M 32 734 M
EV / Sales 2023 2,47x
EV / Sales 2024 2,22x
Nbr of Employees 210 966
Free-Float 38,7%
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Mean consensus OUTPERFORM
Number of Analysts 43
Last Close Price 962,35 INR
Average target price 1 094,33 INR
Spread / Average Target 13,7%
EPS Revisions
Managers and Directors
C. Vijayakumar President, Chief Executive Officer & MD
Prateek Solek Aggarwal Chief Financial Officer
Roshni Nadar Malhotra Chairman
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan Kumar B. Chief Technology Officer & Corporate VP
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