HCL Tech Q3 Results, Profit Rises 14% to Rs 3,037 cr
HCL Tech Q3 Results are finally out today. It reported better than expected numbers. The company announced a net profit of Rs 3,037 cr, up by 14 per cent in the quarter ended December 2019. Earlier, it reported Rs 2,651 cr in the corresponding period a year ago.
The company posted revenues at Rs 18,135 cr in Q3FY20, up by 3.5 per cent as against Rs 17,527 cr QoQ. While the dollar revenues of the HCL Tech was at $2,543 mn, jumped 2.3% QoQ and 15.5 per cent YoY.
EBIT was at Rs 3,670 cr in Q3FY20, rose by 5 per cent. Whereas EBIT margin grew 20.2 per cent. While the Constant Currency (CC) revenue growth increased by 2.1 per cent QoQ in the quarter ended in December 2019. The attrition rate of HCL Tech was at 16.8 per cent compared to 16.9 per cent.
HCL Technologies management said the deal pipeline stood at an all-time high. Right now, the company crossed an annualised revenue run rate of $10 bn.