HCL deal bookings at all-time high in Q4

BENGALURU: HCL Technologies reported revenue growth of 2.6% in constant currency for the fourth quarter, compared to last year, continuing the strong run of IT services companies which have all benefited from the digital transformation customers have been undertaking due to the pandemic.
On a reported basis, revenue was up 6% to $2.7 billion, though net income was down 5% to $410 million. For the full year, revenue was up 1.1% in constant currency to $10.1 billion.

Among the big IT companies, Infosys is the only other to have reported a positive annual growth (5%) in constant currency this time.
“We also registered the highest ever new deal booking this quarter of $3.1 billion with an all-time high exit pipeline. The booking and pipeline represent a well balanced mix of service lines, geographies and industries,” said C Vijayakumar, president and CEO.
Bolstered by the strong deals, the company now expects to grow in double digits in constant currency this year, just like TCS and Infosys. Margins are expected to be between 19% and 21%, slightly less than 21.4% it had last fiscal.

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