HCL Technologies reported a 72 per cent decline in revenue within the January-March quarter of the monetary yr 2020-21, at Rs 1,102 crore, in comparison with Rs 3,969 crore within the October-December quarter, attributable to shareholders of the corporate. The firm’s revenue declined on the again of upper tax expense in the course of the fourth quarter. According to a regulatory submitting by the software program companies firm to the BSE on Friday, the income from operations within the fourth quarter of fiscal 2020-21 rose 1.eight per cent quarter-on-quarter at Rs 19,641 crore, in comparison with Rs 19,302 crore within the previous October-December quarter. (Also Read: HCL Tech’s Third Quarter Profit Surges Nearly 27% to ₹ 3,982 Crore )
HCL Technologies’ whole tax expense within the January-March quarter stood at Rs 2,256 crore, in comparison with Rs 502 crore within the previous December quarter of the monetary yr 2020-21. HCL Technologies mentioned in a press release that the corporate’s income is anticipated to develop in double digits in fixed foreign money for the monetary yr 2021-22. The working revenue margin or EBIT margin is anticipated to be between 19 per cent and 21 per cent for fiscal 2021-22.
The firm’s income from operations went up 5.7 per cent year-on-year at Rs 19,641 crore, in comparison with Rs 18,587 crore within the corresponding interval final yr. The firm’s internet earnings for the quarter stood at Rs 2,962 crore, registering a decline of 25.6 per cent quarter-on-quarter and a fall of 6.1 per cent year-on-year.
In the third quarter of the monetary yr 2020-21, HCL Tech reported a 26.7 per cent rise in consolidated revenue Rs 3,982 crore, in comparison with Rs 3,142 crore within the previous July-September quarter. On Friday, HCL Technologies settled 0.56 per cent decrease at Rs 955.80 apiece on the BSE, forward of declaring the fourth-quarter earnings.