HCL Technologies has announced results for Q3 FY22, for the period ending December 31, 2021.

Q3 FY22:

• Revenues were $2,977.5m, up 13.8% y/y, up 15% in CC
• Operating income (EBIT) was $565.8m, a margin of 19.0%, down 389 bps y/y.

Q3 FY22 revenue share by service line (with revenues and y/y growth in US$) is:

• IT and Business Services 70.6% ($2,103m; +14.1%) +15.3% in CC
• Engineering and R&D services 15.9% ($473m, +16.8%) +19.7% in CC.
• Products & Platforms 13.5% ($402m; +9.2%) +8.2% in CC

Q3 FY21 revenue share by region (with NelsonHall estimates of revenue) is:

• Americas 63.1% ($1,879m) +15.0% in CC 
• Europe 28.3% ($843m), +9.2%  in CC
• RoW 8.7% ($259m), +25.8% in CC

Q3 FY22 revenue share by sector (with estimated revenue) is:

• Financial Services 21.2% ($628m) +13.5% in CC 
• Manufacturing 17.5% ($521m) +12.2% in CC 
• Technology & Services 18.4% ($548m) +18.1% in CC 
• Retail & CPG 10.1% ($301m) +11.5% in CC 
• Telecom, Media, Publishing & Entertainment 8.1% ($241m) +12.4% in CC 
• Life Sciences & Healthcare 14.4% ($429m) +21.3% in CC 
• Public sector 10.4% ($310m) +14.8%. in CC 

LTM key client contribution to revenue (and at end Q2 FY22) was:

• Top 5: 12.2% (12.7%)
• Top 10: 20.3% (20.7%)
• Top 20: 29.4% (29.9%).

HCL signed 16 large services elecom, life sciences and healthcare, and manufacturing verticals.

Total headcount at end September 2021 was 197,777, a net increase of 38,095 during the quarter, and a growth of 23.9% y/y. 

LTM attrition in IT services was 19.8%, up from 15.7% in Q1 FY22.