In Q1 FY’22, HCL’s revenue stood at US$ 2,720 mn delivering a revenue growth at 11.7 percent YoY in constant currency on back of strong performance led by Mode 2 that grew 29.0 percent YoY this quarter and also driven by – IT and Business Services grew by 13.0 percent YoY, led by Digital and Cloud transformation momentum – Engineering and R&D Services grew by 10.7 percent YoY, – Products & Platforms grew by 6.0 percent YoY.
Strong client addition continues (on YoY basis): $50 mn+ clients up by 8, $20 mn+ clients up by 11, $10 mn+ clients up by 10, and $5 mn+ clients up by 6.
Revenue expected to grow in double digits in constant currency for FY’22. EBIT margin expected to be between 19.0 percent and 21.0 percent for FY’22.
“We posted 11.7 percent YoY revenue growth in constant currency and 29.0 percent YoY growth in Mode 2 services in constant currency headlined by Cloud and Digital transformation deals. We remain very confident of a good QoQ growth for the rest of this year, enabled by 37 percent YoY growth in bookings and 7,500+ net hiring this quarter,” said C Vijayakumar, Chief Executive Officer, HCL Technologies.
IT Services attrition (on LTM basis) at 11.8 percent in Q1 FY’22 (down from 14.6 percent last year), reflective of the effectiveness of increased employee engagement initiatives and large scale upskilling programs. 3. Total headcount at 176,499 with strong net Addition of 7,522 during the quarter.
