IT Consulting and Software company HCL Technologies announced Q2FY23 results: Revenue: Constant currency revenue up 3.8% QoQ & up 15.8% YoY INR Revenue of Rs 24,686 Crore, up 5.2% QoQ & up 19.5% YoY USD Revenue of US$ 3,082 Mn, up 1.9% QoQ & up 10.4% YoY Services Revenue (ITBS and ERS) up 5.3% QoQ & up 18.9% YoY in Constant Currency Mode-2 Revenue up 30.9% YoY in Constant Currency Profit, Cash Flow, and Dividend: EBIT Margin at 18%, up 93 bps QoQ Net Margin at 14.1%, up 13 bps QoQ EPS diluted (LTM) at Rs 50.94, up 3.7% YoY Operating Cash Flow at 114% of Net Income (LTM) Dividend of Rs 10/-, 79th consecutive quarter of dividend pay-out C Vijayakumar CEO & Managing Director HCLTech said: “HCLTech has delivered yet another solid performance this quarter with revenue growing at 3.8% QoQ and 15.8% YoY in constant currency and EBIT at 18% up 93 bps QoQ. Our services business grew 5.3% QoQ and 18.9% YoY in constant currency, led by strong demand for Cloud, Engineering and Digital services. This is a validation of the strategic choices we made and the effectiveness of our operational framework. Our bookings and pipeline continue to be very strong, that augurs well for our future growth. These reflect our constant and continuing efforts to supercharge outcomes for all our stakeholders. Our new brand positioning of Supercharging Progress™ has been well received and I am confident will help us deliver on our strategic priorities.” Prateek Aggarwal Chief Financial Officer HCLTech said: “The highlight of the quarter’s performance is growth of 19.5% YoY, with Revenue at Rs 24,686 Crore. EBIT has increased 12.3% and PAT has increased 7.1% YoY. We have significantly improved EBIT margins sequentially, led by operating leverage and efficiencies, despite impact of salary increments for the largest section of our people. Our H1 growth & Deal Wins lead us to increase our Revenue guidance to 16%-17% for Services and 13.5%-14.5% at Company level, reflective of our strong growth visibility. Our EBIT guidance is now in a narrower range of 18%-19%. Our Cash Flow generation continues to be robust with OCF at US$ 2,049 Mn, being 114% of Net Income.” Result PDF