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HCL Q2 net profit rises 18.5% on digitisation push

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HCL Technologies on Friday stated its net profit for the second quarter ended September 2020 grew 18.5% to ₹3,124 crore pushed by a push for digitisation. The firm stated it deliberate to implement wage increments along with a “significant number of hirings” through the present 12 months.

The firm’s revenues grew 6.1% to ₹18,594 crore through the quarter.

“We delivered a solid performance in Q2… Our stellar performance is broad-based across verticals, service lines, geographies and Mode 1, 2, 3 offerings,” president and CEO C. Vijayakumar stated in a digital briefing. “Our new bookings remained very robust, it increased 35% compared to the last quarter. We won 15 transformational deals,” he stated. Mr. Vijayakumar added that the corporate’s deal pipeline grew 20% quarter-on-quarter, which was “an all-time high”.

One of the primary components that contributed to the ‘brilliant performance’ was the depth of the know-how spent as corporations recalibrate companies and enterprise fashions for the brand new regular, he stated.

“We are implementing the salary increments effective October 1, up to E3 levels, and effective January 1, for E4 and above levels,” he added. The Board of Directors has declared an interim dividend of ₹four per fairness share for FY2020-21.

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