Thread by @BiIndia

.@hcltech clocks in nearly 27% jump in profit, crosses the $10 billion revenue milestone with one more quarter left

businessinsider.in/business/corpo…

By @jainrounak

@hcltech @jainrounak .@hcltech beat market expectations to report a nearly 27% increase in profit for the December quarter.

#hcltech

@hcltech @jainrounak The IT services giant also crossed the $10 billion revenue milestone for the year, which the company’s president termed as a ‘pivotal milestone’.

@hcltech #hcltech

@hcltech @jainrounak Revenue for the December quarter stood at ₹19,302 crore, while profit stood at ₹3,982 crore. On a year-on-year basis, revenue and profits increased by 6.4% and 31.1% respectively.

@hcltech #hcltech

@hcltech @jainrounak Apart from this, the company also revised its revenue guidance for the full year FY21, raising it to 2-3% in constant currency terms. In the previous quarter, @hcltech had forecast an increase of 1.5-2.5%.

#hcltech

@hcltech @jainrounak Piggybacking on the post-COVID boost in IT services as companies jump on the cloud computing bandwagon, @hcltech reported that it has signed up 13 new deals across life sciences, healthcare, technology and financial services.

#hcltech

@hcltech @jainrounak Shares of @hcltech have jumped by over 16% in the December quarter. However, almost all of the jump was witnessed in December alone, which accounted for a 15% increase.

#hcltech

@hcltech @jainrounak “The technology sector is in the midst of a massive digitization wave, with more global enterprises embracing digital transformation to address the disruption of these unprecedented times,” said #ShivNadar Chief Strategy Officer, HCL Technologies.

@hcltech #hcltech