HCL Technologies limited, on Thursday has given a statement that its profits raised up to 31.75% at ₹2925 crores for its June 2020 quarter. HCL Technologies has shown a net profit of ₹2220 crore in the April -June 2019 quarter where its revenue grew 8.6 per cent to ₹17841 crores from ₹16425 crores in the corresponding quarter last year.
HCL Technologies expects its revenue to increase by an average of 1.5 -2.5 per cent quarter on quarter in constant currency for the next three quarters. HCL Technologies has announced a dividend of ₹2 per share for its shareholders. The company has managed to perform well even during the worst covid –19 pandemic situation. Infact financial year 2020 has been a landmark year for the HCL Technologies where the company has witnessed its highest growth in recent years and an industry leading performance for the fourth consecutive year.
The virus outbreak held as a barrier for all economic activities barring essential services as it forced India to impose the world’s biggest lockdown of more than two months. That led to a rise in cost for the IT firms as most employees worked from home.
HCL Technologies President and CEO C. Vijayakumar said “Our focused Mode 1-2-3 Strategy helped us deliver an all-round growth across service lines, verticals and geographies and enabled us to deliver at the top end of revenue systems to achieve the highest efficiency’’. He also said that the company had healthy bookings, enabled by 11 new transformational deal wins. The company has also renewed several large deals during this quarter.
The company is confident that its capabilities, strong strategies, strong client base and healthy financial methods will help them to sustain this ongoing covid-19 pandemic. The company has invoked business continuity plans and risk management framework to minimize the impact on its employees.
Presently 96% of its employees are working from home and another 2.5% are working from offices. At the end of June 2020 quarter, HCL had 1,50,287 employees with a gross addition of 7005 employees. The company Is also working to ensure that they support IT and Capabilities as the world battles the covid-19 pandemic.
HCL’s Chairman Shiv Nadar is going to step down from his position and Shiv Nadar’s Daughter Roshni Nadar Malhotra will succeed him with immediate effect. Shiv Nadar will be continuing as the Managing Director of the company with the position as the chief Strategy Officer of the company.
