HCL Technologies consol net falls 3% on year to Rs 1,823 cr

The stock was trading at Rs. 824.20 on BSE today, down 2.04 per cent

hidden October 19, 2015 11:14:07 IST
HCL Technologies consol net falls 3% on year to Rs 1,823 cr

New Delhi - India’s fourth-largest software services provider HCL Technologies today reported 2.7 percent fall in consolidated net profit at Rs 1,823 crore for the first quarter ended September 30, 2015. The figure was up 2.2 percent on quarter.

The company had posted a net profit of Rs. 1,873 crore in the year-ago period, it said in a BSE filing.

HCL Technologies consol net falls 3 on year to Rs 1823 cr

Reuters

HCL had already warned of a “tepid” September quarter on account of adverse currency impact and a client-specific issue.

Without the adjustment, the reported quarter’s revenues stood at Rs 1,726 crore.

Consolidated revenues grew 15.6 percent to Rs 10,097 crore (ex-adjustment) in July-September of this fiscal as against Rs 8,735 crore in the same quarter of the previous fiscal.

In dollar terms, net profit declined 9.3 percent to $278.5 million (ex-adjustment) in the period under review as against $307.2 million in the year-ago period.

Revenues rose 7.7 per cent to $1.54 billion during the review period, from $1.43 billion in the corresponding quarter last fiscal.

“We have started FY16 on a strong footing with LTM revenue growth of 15 percent y-o-y in constant currency. Our investments in BEYONDigital, Next-Gen ITO and IoT offerings is reflected in our healthy bookings and deal pipeline,” HCL Technologies CEO Anant Gupta said.

Revenues from Europe grew 18.2 percent y-o-y while those from the Americas jumped 12.3 percent during the said quarter.

Vertical growth was led by lifesciences and healthcare at 40.5 per cent, telecommunications, media, publishing and entertainment at 23.2 per cent, retail and CPG at 6.6 per cent, public services at 22 per cent, manufacturing at 12.7 per cent and financial services at 7.7 per cent y-o-y.

HCL Technologies saw an exit of 536 employees during the September quarter, taking the total headcount to 1,05,571.

It signed 10 transformational engagements with more than USD one billion of Total Contract Value this quarter.

The company has declared an interim dividend of Rs. 5 per share of Rs. 2.

The stock was trading at Rs. 824.20 on BSE today, down 2.04 per cent from its previous close.

PTI

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

TCS net beats estimates, rises 15% to Rs 3,318 cr
Business

TCS net beats estimates, rises 15% to Rs 3,318 cr

TCS, India's largest software exporter, net profit rose by 14.6 percent to Rs3,280 crore in the June quarter, up from Rs2,919.25 crore in the March quarter. Revenues have risen by 12.1 percent to Rs 14,869 crore.

HCL Tech surprises again, beats Dec qtr estimates with Rs 1,496 cr profit
Business

HCL Tech surprises again, beats Dec qtr estimates with Rs 1,496 cr profit

The company's consolidated net profit during the quarter rose 5.7 percent on quarter was Rs 1,496 crore, higher than a CNBC-TV18 poll estimate of Rs 1,453 crore. Its revenue was up 2.8 percent at Rs 8,184 crore compared with the estimate of Rs 8,126 crore.

Explainer: Why HCL Tech, TCS are not market heroes despite good results
Business

Explainer: Why HCL Tech, TCS are not market heroes despite good results

Shares of IT stocks Tata Consultancy Services and HCL Tech were down in trade this morning on profit booking even as the three companies posted better than expected earnings for the quarter ended September 30, 2013.<br /><br />