Home Business HCL Technology Profit Falls 72% In January-March Quarter On Higher Tax Expense

HCL Technology Profit Falls 72% In January-March Quarter On Higher Tax Expense


HCL Technology Profit Falls 72% In January-March Quarter On Higher Tax Expense

HCL Technology reported a 72 per cent decline in profit in the January-March quarter of the financial year 2020-21, at Rs 1,102 crore, compared to Rs 3,969 crore in the October-December quarter, attributable to shareholders of the company. According to a regulatory filing by the software services company to the BSE on Friday, April 23, the revenue from operations in the fourth quarter of fiscal 2020-21 stood at Rs 19,641 crore, compared to Rs 19,302 crore in the preceding October-December quarter.

HCL Technology’s total tax expense in the January-March quarter stood at Rs 2,256 crore, compared to Rs 502 crore in the preceding December quarter of the financial year 2020-21. HCL Technology said in a statement that the company’s revenue is expected to grow in double digits in constant currency for the financial year 2021-22. The operating profit margin or EBIT margin is expected to be between 19 per cent and 21 per cent for fiscal 2021-22.

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