HCL Tech's operating revenue margin is anticipated to be in between 19- 21 percent for fiscal 2021-22HCL Technologies reported a 72 per cent decrease in revenue in the January-March quarter of the fiscal year 2020-21, at Rs 1,102 crore, compared to Rs 3,969 crore in the October-December quarter, attributable to investors of the business.
The business's profit decreased on the back of greater tax expenditure during the 4th quarter.
According to a regulatory filing by the software application services business to the BSE on Friday, the profits from operations in the fourth quarter of financial 2020-21 rose 1.8 per cent quarter-on-quarter at Rs 19,641 crore, compared to Rs 19,302 crore in the preceding October-December quarter.
(Also Check Out: HCL Tech's Third Quarter Profit Rises Nearly 27% to 3,982 Crore )HCL Technologies' total tax expenditure in the January-March quarter stood at Rs 2,256 crore, compared to Rs 502 crore in the preceding December quarter of the fiscal year 2020-21.
HCL Technologies stated in a statement that the company's profits is expected to grow in double digits in continuous currency for the financial year 2021-22.
The operating revenue margin or EBIT margin is expected to be between 19 percent and 21 per cent for financial 2021-22.
The company's profits from operations went up 5.7 per cent year-on-year at Rs 19,641 crore, compared to Rs 18,587 crore in the matching period last year.
The business's net income for the quarter stood at Rs 2,962 crore, registering a decrease of 25.6 percent quarter-on-quarter and a fall of 6.1 per cent year-on-year.
In the third quarter of the financial year 2020-21, HCL Tech reported a 26.7 percent increase in combined revenue Rs 3,982 crore, compared to Rs 3,142 crore in the preceding July-September quarter.
On Friday, HCL Technologies settled 0.56 percent lower at Rs 955.80 each on the BSE, ahead of stating the fourth-quarter incomes.