Millennium Post

HCL Tech Q3 net up 7.8%; co maintains full-year guidance

HCL Technologies on Tuesday posted a 7.8 per cent jump in net profit at Rs 2,070 crore for the December quarter, helped by growth in public services business and infrastructure services.

Revenues for the country's fourth-largest IT company were up 14.2 per cent at Rs 11,814 crore in the said quarter over the year-ago period, in line with Street expectations.

In dollar terms, the top line was higher by 11.4 per cent at $1.74 billion while profits grew 5.2 per cent to $306 million. The company has announced a dividend of Rs 6 per share.

The Noida-based firm has maintained its revenue growth outlook of 12-14 per cent for 2016-17 (based on average exchange rates for 2016-17) in constant currency.

"We continue our robust financial performance with a revenue growth of 3 per cent q-o-q and 13.8 per cent y-o-y in constant currency terms... We expect our 2016-17 revenues to be in the middle of this range," HCL Technologies President and CEO C Vijayakumar told reporters here.

The company added that the acquisitions and IP-led partnerships announced after September 30, 2016, are likely to additionally contribute 0.6-1 per cent in revenues, depending on the date of consummation of the Geometric deal.

"HCL Tech posted numbers more or less in line with expectations," Angel Broking VP Research-IT Sarabjit Kour Nangra said.
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