HCL Technologies has announced results for Q3 FY2021, for the period ending December 31, 2020.

Q3 FY21

• Revenues were $2,616.6m, up 2.9% y/y, up 1.1% in CC
• Operating income (EBIT) was $599m, a margin of 22.9%, up 266bps y/y.

Q3 FY21 revenue share by service line (with estimated revenue) and CC y/y growth is:

• IT and Business Services 70.4% ($1,843m) +1.1% 
• Engineering and R&D services 15.5% ($405m, -6.2%) -5.1%
• Products & Platforms 14.1% ($368m) +9.3%.

Q3 FY21 revenue by Mode 1/2/3 and CC y/y growth is:

• Mode 1, $1,596m, -6.0%
• Mode 2, $594m, +25.0%
• Mode 3,  $427m, +3.5%.

Q3 FY21 EBIT margin by Mode 1/2/3 was:

• Mode 1, 21.4%
• Mode 2, 22.0%
• Mode 3, 29.7%.

Q3 FY21 revenue share by region (with estimated revenue) and CC y/y growth is:

• Americas 62.5% ($1,635m) +2.2% 
• Europe 29.5% ($772m), -1.0%
• RoW 8.0% ($209m), +0.1%.

Q3 FY21 revenue share by sector (with estimated revenue) and CC y/y growth is:

• Financial Services 21.4% ($560m) -0.5%  
• Manufacturing 18.1% ($474m) -14.1%  
• Technology & Services 17.8% ($466m) +20.2% 
• Retail & CPG 10.6% ($275m) +3.0% 
• Telecom, Media, Publishing & Entertainment 8.3% ($217m) -7.-%
• Life Sciences & Healthcare 13.6% ($356m) +13.3%
• Public sector 10.4% ($272m) -3.4%. 

LTM key client contribution to revenue (and at end Q1 FY21) was:

• Top 5: 13.5% (13.7%)
• Top 10: 21.0% (20.9%)
• Top 20: 30.9% (30.6%)

The number of large accounts (and y/y change) was:

• $100m+ 15 (+1)
• $50m+ 31 (+2)
• $10m+ 173 (+1)

HCL signed 13 transformational deals in Q3 led by the Life Sciences and Technology and Financial Services

Total headcount at end December 2020 was 159682, a net increase of 6,597 during the quarter, and a growth of 4.3% y/y. 

LTM attrition in IT services was 10.2%, down from 16.8% in Q3 FY20.