HCL Technologies on Thursday posted a 22.8% increase in its consolidated net profit to ₹3,154 crore for the quarter ended March 31,2020.
The IT giant said its revenues for the quarter under review stood at ₹18,590 crores, up 16.3% from January-March 2019, as per US GAAP.
For the FY-20, the net profit was up 9.3% to ₹11,062 crore year-on-year, while revenues were up 17% to ₹70,678 crores.
In constant currency, revenue growth for full year was up 16.7% to $9,936 million — in line with forecasted outlook of 16.5-17% for the full year. This time, however, HCL Technologies has not given revenue guidance amid uncertainties on account of COVID-19 pandemic.
“FY’20 has been a landmark year, where we witnessed our highest growth in recent years and an industry leading performance for the fourth consecutive year. Our focused ‘Mode 1-2-3 strategy’ helped deliver an all-round growth across service lines, verticals and geographies and enabled us to deliver at the top-end of our revenue guidance and exceed the top-end of our margin guidance for the year,” HCL Technologies President and CEO C. Vijayakumar said.
He added that looking ahead, the company is confident that its capabilities, balanced portfolio, strong client relationships and financial strength will help navigate this ongoing crisis and emerge stronger.
The company pointed out that in January, it had begun continuous monitoring of the COVID-19 outbreak and invoked its Business Continuity Plan and Risk Management Framework to minimize the impact on its employees and clients.
Additionally, of the total number of HCL’s global employees, presently 96% are working from home and another 2.5% are working from offices.
“These are unprecedented times where countries across the world are working hard to combat the COVID-19 pandemic and are positively embracing all the changes that have come their way at such speed and short notice,” the company said.
It added that everywhere its ecosystem is delivering critical services — such as healthcare, pharmacy, food supply and distribution, and civic amenities such as power, safety and governance — the company is working to ensure they remain up and running with requisite IT support and capabilities as the world battles the unprecedented COVID-19 pandemic.
(EOM)
