Consolidated revenue stood at ₹23,464 crore rising by 16.9% yoy and 3.8% qoq. In dollar terms, revenue was at $3,025 million up by 1.1% qoq and 11.2% yoy. The constant currency revenue growth stood at 2.7% qoq and 15.6% yoy in the Q1 of this fiscal.
IT service provider HCL Technologies posted a sequential drop of 8.6% in the consolidated net profit to ₹3,283 crore for the quarter ending June 30, 2022 (Q1FY23) period. However, the PAT recorded a growth of 2.4% on a year-on-year basis. On Tuesday, the company's board of directors declared an interim dividend of ₹10 per equity share having a face value of ₹2 each for the financial year FY23. The company's pipeline remains near record high levels.
Consolidated revenue stood at ₹23,464 crore rising by 16.9% yoy and 3.8% qoq. In dollar terms, revenue was at $3,025 million up by 1.1% qoq and 11.2% yoy. The constant currency revenue growth stood at 2.7% qoq and 15.6% yoy in the Q1 of this fiscal. Meanwhile, in the quarter, services revenue (ITBS and ERS) climbed 2.3% qoq and 19% yoy in constant currency.
EBITDA margin was at 21.2%, while EBIT margin came in at 17% in the quarter under review.
Roshni Nadar Malhotra, Chairperson, HCL Technologies said, "As technology becomes central to lives and businesses, HCL is accelerating the digital transformation journeys of its clients. We continue to pursue our growth strategy with a sense of purpose and responsibility toward our stakeholders and communities."
Further, on the performance, C Vijayakumar, CEO & Managing Director, HCL Technologies said, "We have started FY’23 on a strong note with an overall growth of 2.7% QoQ and 15.6% YoY in Constant Currency. Our services business continues to have robust growth momentum, growing at 2.3% QoQ and 19.0% YoY in constant currency, driven by our digital engineering and digital application services with cloud adoption being a horizontal theme across all services and verticals."
Vijayakumar added, "Our new bookings grew 23.4% YoY supported by a good mix of large and mid-sized deals and our pipeline remains near record high. Our operating margin came in at 17.0%. We have put in place the right measures that will improve our profitability going forward."
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