HCL Technologies Ltd Q1FY21 consolidated PAT jumps YoY to Rs. 2931 crore

HCL TECHNOLOGIES LTD. has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.18137 crores during the period ended June 30, 2020 as compared to Rs.18734 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.2931 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.3172 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.10.80 for the period ended June 30, 2020 as compared to Rs.11.69 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 18137 crs	₹ 18734 crs	-3.19%
Net Profit	₹ 2931 crs	₹ 3172 crs	-7.6%
EPS	₹ 10.80	₹ 11.69	-7.61%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.18137 crores during the period ended June 30, 2020 as compared to Rs.16610 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.2931 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.2230 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.10.80 for the period ended June 30, 2020 as compared to Rs.8.22 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 18137 crs	₹ 16610 crs	9.19%
Net Profit	₹ 2931 crs	₹ 2230 crs	31.43%
EPS	₹ 10.80	₹ 8.22	31.39%

"We are living in unprecedented times where organizations and people across geographies are dealing with challenges related to the pandemic. However, this has also pushed businesses to accept the pandemic as a catalyst for change and look at building agility and resilience into every level of their organization. HCL, along with its partners, is helping customers embrace digital transformation and innovation to emerge stronger in this new normal. I am confident that, with decisive action leveraging digital momentum and sustainable business practices, we will together emerge as stronger entities.", said Shiv Nadar, Managing Director and Chief Strategy Officer, HCL Technologies Ltd.

C Vijayakumar, President & CEO, HCL Technologies Ltd. said, "The adverse conditions during this quarter had an anticipated negative impact on our revenue. I am happy to report that the resilience of our operating model helped us deliver stellar operating margins and cashflows. We had healthy bookings enabled by 11 new transformational deal wins. We also renewed several large deals during the quarter.

More than ever before, this quarter, our focus was to stand by our employees and clients during these testing times. The very high Annual Customer Satisfaction scores we received, coupled with the recognition and gratitude we got from both our employees and clients has been truly humbling.

We are seeing a robust demand environment and a strong pipeline which gives us confidence in our growth trajectory going forward."

"HCL's margin resilience and cash generation prowess was highlighted this quarter, despite the COVID-led impact to the topline. Our proactive efforts ensured that EBIT margins came in at 20.5%, exceeding the last 3 quarters' average and was 340 bps higher YoY. EBITDA margin, the closest surrogate to cash generation, came in at a very healthy 25.6%. We generated Operating Cash Flow (OCF) of $819 mn and Free Cash Flow (FCF) of $757 mn, being 212% and 196% respectively of Net Income; FCF came in more than double the quarterly average last financial year. Consequently, we closed the quarter with Gross Cash of $1.95 bn and Net Cash of $1.33 bn.", said Prateek Aggarwal, CFO, HCL Technologies Ltd.

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.627.65 as compared to the previous close of Rs. 615.2. The total number of shares traded during the day was 675494 in over 17687 trades.

The stock hit an intraday high of Rs. 652.2 and intraday low of 607.4. The net turnover during the day was Rs. 426607209.

Source : Equity Bulls

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