HCL Tech Q4 net dips 6%, expects FY22 revenue to grow in double digits

The IT firm's EBIT margin in FY22 is expected to be between 19%-21%

IT services firm HCL Technologies fourth quater numbers were impacted by higer taxes and one-time bonus payment. The company reported a 64.9 per cent fall in its fourth quarter net profit at Rs 1,111 crore on a year-on-year basis. Profit was down 72 per cent on a sequential basis. The provision for tax nearly doubled sequentially in Q4 to Rs 1,191 crore. 

The fourth quarter revenue was Rs 19,642 crore, up 1.8 per cent sequentially and up 5.7 per cent on y-o-y basis. The Noida-based company expects FY22 revenue to grow in double digits in constant currency, and expects EBIT