HCL Technologies has announced results for Q2 FY22, for the period ending September 30, 2021.

Q2 FY22:

• Revenues were $2,790.7m, up 11.3% y/y, up 10.5% in CC
• Operating income (EBIT) was $528.9m, a margin of 19.0%, down 265 bps y/y.

Q2 FY22 revenue share by service line (with revenues and y/y growth in US$) is:

• IT and Business Services 72.6% ($2,027m; +14.2%) +13.2% in CC
• Engineering and R&D services 15.7% ($438m, +11.2%) +12.7% in CC.
• Products & Platforms 13.1% ($325m; -4.0%) -5.5% in CC

Q2 FY21 revenue share by region (with NelsonHall estimates of revenue) is:

• Americas 62.8% ($1,753m) +10.7% in CC 
• Europe 28.3% ($790m), +9.0%  in CC
• RoW 8.9% ($248m), +14.9% in CC

Q2 FY22 revenue share by sector (with estimated revenue) is:

• Financial Services 21.2% ($592m) +6.3% in CC 
• Manufacturing 17.9% ($500m) +11.9% in CC 
• Technology & Services 17.2% ($480m) +10.8% in CC 
• Retail & CPG 9.8% ($273m) +3.6% in CC 
• Telecom, Media, Publishing & Entertainment 7.9% ($220m) +13.4% in CC 
• Life Sciences & Healthcare 15.3% ($427m) +20.1% in CC 
• Public sector 10.6% ($296m) +8.8%. in CC 

LTM key client contribution to revenue (and at end Q1 FY22) was:

• Top 5: 12.7% (13.0%)
• Top 10: 20.7% (20.8%)
• Top 20: 29.9% (30.4%).

HCL signed 14 large services elecom, life sciences and healthcare, and manufacturing verticals.

Total headcount at end September 2021 was 187,634, a net increase of 34,549 during the quarter, and a growth of 22.6% y/y. 

LTM attrition in IT services was 15.7%, down up 11.8% in Q1 FY22.