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HCL Tech logs 3.6% quarterly profit rise

HCL Tech logs 3.6% quarterly profit rise
IT services firm HCL Technologies on Tuesday reported a 3.6 per cent increase in net profit at Rs 1,683 crore for the quarter ended March 31, 2015.

The Noida-based firm had posted a net profit of Rs 1,624 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement. The company follows July-June fiscal. Its revenue for the reported quarter was up 11 per cent at Rs 9,267 crore from Rs 8,349 crore in the corresponding period a year ago. 

However, on sequential basis, the net profit declined by 12.2 per cent from Rs 1,915 crore in Q2 FY2014-15 and revenue dipped 0.2 per cent from Rs 9,283 crore. In dollar terms, the company’s net profit grew 2.3 per cent to $270 million, while revenue rose 9.5 per cent to $1.49 billion in Q3 of FY15 from the year-ago period. 

“HCL continues to deliver broad-based growth across geographies, verticals and horizontals. This quarter saw our revenue increase by 14.4 per cent (last 12 months year-on-year) in constant currency and we gained significant market share fuelled by transformational deal bookings in excess of $1 billion,” HCL Technologies President & CEO Anant Gupta said. 

These engagements were primarily driven from industries like consumer services, manufacturing and public services and the European region, he added. The company has announced a dividend of Rs 4 per equity share. During the quarter, HCL Technologies added 11,041 people (gross) and 3,944 (net) employees, taking the total headcount to 1,04,184 as on March 31, 2015. 

.. shares end 4% lower
Shares of the country’s fourth largest IT services firm HCL Technologies on Tuesday fell by nearly 4 per cent as the company’s March quarter earnings came in below market expectations. Paring most of its sharp initial losses, shares of HCL Tech ended at Rs 891.05, down 3.48 per cent from its previous close on the BSE. During the day, it lost 9.64 per cent to Rs 834.10. At the NSE, the stock fell by 3.64 per cent to settle at Rs 890.65. 
PTI

PTI

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