Quarterly Results Part 3 : HCL Tech, REL Infra and Others

With the quarterly result announcements one can be sure about the future market pattern. If the earnings are positive, it returns a positive sentiment to the market community. However the recent displays in the Tech sector have been devastating the tech segment. But on the contrary HCL Tech has posted a growth of 11% jump in profits and has also beaten the estimates of the street. Also REL Infra has posted a 983% jump in profits and it is also declaring a dividend. 

HCL Tech

Tech sector has been suffering lately due to the U.S. economy struggle. Alongside this there are multiple bank failure issues in the world. Amidst such a volatile market the tech companies are trying their best to keep up with their client base and on the other hand improve their client list as well. HCL Tech has been successful in this endeavour so far. The company has posted the net profit of 3981 Crore Rs in 2023 March. This figure was close to 3599 Crore Rs for March 2022. This means a direct jump of 10.61% in its profitability. The best part about this company is its stock valuiation. The company has been trailing at 1048 Rs per share which is just 100 Rs away from its 52 week high. Also where most of the tech comoanies are trailing at their 52 week lows, the same for HCL Tech is 877 Rs. Hence the company has been performing well in comparison to its peers.

The revenue of HCL Tech stood at 26606 Crore Rs which is 17.75% more than the March 2022 figures. The same for March 2022 was 22597 Crore Rs. The profit figures of HCL Tech beat the projections made by analysts of Dalal Street. However the revneu projections made by analysts remained short by 200 Crore Rs. The CCR or Constsnat Currency Reveneu was down by 1.2% whereas the US Dollar revneu of the firm was up by 8.1% at 3235 Million Dollars. The earnings before interest, tax, dividend and amortization was at 4836 Crore Rs.

Other Information

The company’s order pipeline is at the peak and it has employed more than 3650 employees. The overall employee strength of the company stood at 225000. The further projections of the company infer a revnue growth of 8% and the O.M. or operating marigin growth by 19%. The company declared a dividend of 18 Rs per share. The attrition rate for the firm stood at 19.5% in comapriosn to 21,7% uin the previous year’s March quarter.

REL Infra

This company has been into the news since it posted a 983% growth in profits. The profit of the firm was 11.54 Crore Rs in March 2023. This was 1.06 Crore Rs in March 2022. On the other hand the combined fiscal profit if the firm stood at 15.58 Crore Rs which was 7.55 Crore Rs before. This means a two times growth in the combined fiscal net profit. The company has announced a massive dividend of 3.50 Rs per share.

ICICI Bank

The net profit of one of the leading banks in India jumped by 30%. ICICI bank also improved its bad loans percentage. The gross bad loan percentage came in at 2.81% in comparison to 3.60% earlier. The net profit of the firm was close to 9122 Crore Rs for March 2023. This was close to 7020 Crore Rs in March 2022. The major boost for the company is its growth. The analysts oredicted the profit figures to be somewhere around 8540 Crore Rs which in turn was 9122 Crore Rs which is almost 600 Crore Rs more than expectation. 

The net interest income of the bank increased to 17667 Crore Rs in March 2023. This was a 40.2% growth in the NII. The same for March 2022 was 12605 Crore Rs. The domestic loan book of the firm showed a healthy growth of 20.5% whereas the business banking loans grew by 34.9%. The corporate loan figure showed an increase of 22.7%. The SME loans were up by 19.2%.

Other Information

The bank’s provisions were up by 51.5%. This figure was close to 1619 Crore Rs. Net Interest margin of bank was 4.9% in comparison to 4% in the previous year’s quarter. The deposits of the banks increased by 10.9% and it has a contingency provision of 1600 Crore Rs. The NPA’s of the firm were down by 25.9% to 5155 Crore Rs. This ratio was 0.76% in previous year’s quarter which is now at 0.48%.

Hence overall the ICICI bank has posted stellar returns and it has maintained the banking segment outcomes as well. The Bank Nifty has been posting solid gains since the last 2 weeks and this is possible due to the positive results showed by multiple big banks in India. Hence the Jan to March 2023 quarter has been phenomenal for the banking segment.