HCL Technologies advanced 2.53% to Rs 1,123.40 after consolidated net income rose 19.4% to Rs 2,651 crore on 6.7% increase in revenues to Rs 17,528 crore in Q2 September 2019 over Q1 June 2019.
The announcement was made after market hours yesterday, 23 October 2019.
Consolidated EBITDA rose 20.7% to Rs 4,103 crore in Q2 September 2019 over Q1 June 2019. EBITDA margin stood at 23.4% in Q2 September 2019 compared with 20.7% in Q1 June 2019.
Consolidated EBIT rose 24.6% to Rs 3,497 crore in Q2 September 2019 over Q1 June 2019. EBIT margin stood at 20% in Q2 September 2019 compared with 17.1% in Q1 June 2019.
The company said its FY2020 revenues are expected to grow between 15% to 17% in constant currency. Operating margin (EBIT) is expected between 18.5% to 19.5%.
"A wave of unprecedented disruption is underway and it is going to define the next era of business and technology landscape. The times are changing and newer ideas & opportunities are constantly evolving. Thus, it is imperative for us to work together withthe larger ecosystem to develop sustainable solutions and contribute towards socio-economic and sustainable development for a better future," said Shiv Nadar, chairman & chief strategy officer, HCL Technologies.
"HCLites have delivered yet another outstanding quarter with a 20.5% YoY growth,translating to a more than 14% industry leading organic growth.Our sharp focus on pricing and cost levers over the last 6 months have helped deliver a solid EBITof 20%. I am also very excited about the progress we have made in our newly formed, HCL Software business. I am confident that this momentum combined with our diversified portfolio of services and software will deliver great value to our clients, our shareholders and most importantly, our employees," said C Vijayakumar, President & CEO, HCL Technologies.
"I am extremely pleased to report yet another quarter of industry leading growth of 20.5% YoY in constant currency at an EBIT margin of 20.0%. The overall robust performance validates the resilience of our business model as well as our evolving business mix. Cash EPS has increased by 12.9% on LTM YoY basis, and is now at Rs 88.4 per share," said Prateek Aggarwal, CFO, HCL Technologies.
The company's board approved issuing one bonus share for every one equity shares held (1:1). The bonus shares shall be credited 2 months after the approval from the company, i.e. Sunday, 22 December 2019.
Meanwhile, the S&P BSE Sensex was up 79 points or 0.20% to 39,137.66.
On the BSE, 91,667 shares were traded in the counter so far compared with average daily volumes of 68,764 shares in the past two weeks. The stock hit an intraday high of Rs 1,160 and an intraday low of Rs 1,121.30.
The stock hit a 52-week high of Rs 1,190 on 30 April 2019. The stock hit a 52-week low of Rs 920.15 on 11 January 2019.
HCL Technologies is engaged in providing a range of software development services, business process outsourcing services and information technology (IT) infrastructure services.
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