HCL Technologies today reported a strong set of earnings for the September quarter and raised revenue and margin guidance for the rest of the year.

“Cloud migration was already in the works, it has just got significantly accelerated,” said C Vijayakumar, President and CEO of HCL Technologies in an interview to CNBC-TV18.

“For a large part of the IT landscape to move to cloud is at least a five-year journey. It is a very big existing legacy landscape and that is going to take a few years for completely migrating to cloud, modernising and simplifying applications and get all the integrations done,” he added.

“I see good 3-5 year kind of a trend driven around cloud migration and digital transformation kind of opportunities,” he said.

The company has had very good bookings this quarter and has won 15 transformational deals, he said.

Vijayakumar said the overall momentum remained strong.

“There will be a positive growth year-on-year (YoY) which is a significant increase based on the overall momentum. Overall the execution and fulfilment got better and better as the quarter went by, so eventually constant currency growth of 4.5 percent was delivered,” he said.

“Looking at cash generation and the very good topline and bottomline movements, the board has decided to double per share dividend that we have been giving every quarter,” said Prateek Aggarwal, Chief Financial Officer at HCL Technologies.

First Published:Oct 16, 2020 2:40 PM IST