HCL Technologies hit a high of 2.70 per cent to Rs 977.35 after the IT company reported a 6.27 per cent rise in consolidated net profit to Rs 3,489 crore on a 5.2 per cent rise in revenue to Rs 24,686 crore in the second quarter of FY23 over the first quarter of FY23.

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EBITDA increased by 9.05 per cent to Rs 5,425 crore in the second quarter of FY23 from Rs 4,975 crore in the first quarter of FY23. EBITDA margin in the second quarter of FY23 improved to 22 per cent compared with 21.2 per cent in the first quarter of FY22. 

The revenue stood at $3,082 million, up 1.9 per cent quarterly and up 10.4 per cent yearly in terms of the dollar. For the Financial year 2023, the company increased revenue guidance to 13.5 cent-14.5 per cent YoY 

In the second quarter of FY23, the total contract value (TCV) of new deal wins was at $2,384 million, registering a growth of 16 per cent on a quarterly basis and 6 per cent YoY.

The business grew 5.3 per cent QoQ in constant currency (CC) and 18.9 per cent yearly cc. Engineering and R&D Services grew 5% QoQ cc and 22.3% YoY cc. IT and Business Services grew at 5.3 per cent QoQ cc and 18.2 per cent YoY cc.

Telecom led growth momentum, Media, Publishing & Entertainment at 27.1 per cent, Technology & Services at 26.6 per cent, Manufacturing at 21.8 per cent, Lifesciences & Healthcare at 14.4 per cent and Retail & CPG at 11.9 per cent YoY in constant currency. Geographical growth boosted Europe at 21.8 per cent, Americas at 18.2 per cent and ROW at 13.7 per cent YoY in cc.

In the second quarter of FY23, employee benefits expense stood at Rs 13,474 crore, up 3.82 per cent every quarter and up 22.3 per cent yearly. The company’s board of directors has declared an interim dividend of Rs 10 per equity share in FY23. The record date is fixed on 20 October 2022. The payment date of the said interim dividend shall be 2 November 2022.

HCL Technologies (HCL) will empower global enterprises with technology for the next decade. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).