Reliance Industries' 47th AGM: Major Announcements and Insights
HCL Technologies Q1 Results FY2023, Revenue up by 3.8% QoQ
![HCL Technologies Q1FY23 Results Update HCL Technologies Q1FY23 Results Update](https://storage.googleapis.com/5paisa-prod-storage/files/2022-07/HCL%20Technologies%20Q1FY23_0.jpg)
![Shreya_Anaokar Shreya_Anaokar](https://storage.googleapis.com/5paisa-prod-storage/files/2022-05/shreya_anaokar.jpg)
Last Updated: 13th July 2022 - 05:04 pm
On 13th July 2022, HCL Technologies announced its quarterly results for the first quarter of FY2023.
Key Highlights:
Q1FY23 Performance updates:
- For Q1FY23 HCL Technologies posted revenue of $ 3025 Million up by 1.1% QoQ and 11.2% YoY.
- The constant currency revenue is up by 2.7% QoQ and 15.6% YoY.
- Services Revenue (ITBS and ERS) up 2.3% QoQ & up 19% YoY in Constant Currency.
- EBITDA margin at 21.2% and EBIT margin at 17.0%.
- Net Income at $ 424 million with Net Income margin at 14% down by 10.7% QoQ and down by 2.5% YoY
- The INR Revenue is at ₹ 23464 crores with a growth of 3.8% QoQ and 16.9% YoY
- The INR Net Income is at ₹ 3283 crores with a drop of 8.6% QoQ and up by 2.4% YoY.
HCL Technologies Q1FY23 Result Review
FY23 Forecast:
- Revenue is expected to grow between 12% to 14% in constant currency.
- EBIT margin is expected to be between 18% to 20%.
Geographical Revenue:
- For Q1FY23, the revenue from geographical presence in the European market grew by 1.6% on a QoQ basis and by 22.5% on a YoY basis.
- For Q1FY23, the revenue from the geographical presence in the American market increased by 2.8% on a QoQ basis and by 17.5% on a YoY basis.
- In Q1FY23, the revenue from the rest of the world grew by 1.1% on a QoQ basis and by 18.2% on a YoY basis.
Revenue by Industry:
- The constant currency revenue from Financial services grew by 0.8% QoQ and 16.4% YoY for Q1FY23.
- The constant currency revenue from Manufacturing declined by 0.5% QoQ and grew by 19.1% YoY for Q1FY23.
- The constant currency revenue from Technology and Services grew by 10.9% QoQ and by 34.2% YoY for Q1FY23.
- The constant currency revenue from Retail and CPG declined by 1.4% QoQ and grew by 5.8% YoY for Q1FY23.
- The constant currency revenue from Telecommunications, Media, Publishing and Entertainment increased by 4.3% QoQ and 29.2% YoY for Q1FY23.
- The constant currency revenue from Lifesciences and Healthcare increased by 2.7% QoQ and grew by 15.7% YoY for Q1FY23.
- The constant currency revenue from Public services declined by 0.2% QoQ and grew by 15.2% YoY for Q1FY23.
Other Highlights:
- The total headcount of the company was reported at 210966, seeing a growth of 19.5% YoY and for its global employees, 28.3% are women
- HCL Technologies won 16 new deals across diverse verticals with a global contract value of $2054 million, registering a growth of 23.4% YoY
Commenting on the results Roshni Nadar Malhotra, Chairperson, HCL Technologies Ltd 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.”
“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”, said C Vijayakumar, CEO & Managing Director, HCL Technologies Ltd. “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.”, he added.
Trending on 5paisa
Discover more of what matters to you.
Corporate Actions Related Articles
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.