HCL Technologies Q3 profit rises 28% to Rs 6 billion

Bangalore: HCL Technologies Ltd, India’s fourth-largest software services exporter, reported a 28 percent rise in quarterly net profit, beating expectations, after customers boosted orders to cut operational costs amid the global economic uncertainty.

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Consolidated net profit for the fiscal third quarter ended 31 March rose to 6 billion Indian rupees from 4.68 billion rupees a year earlier, the company said on Wednesday.

HCL follows a July-June fiscal year. Sales rose 26 percent to 52.16 billion rupees.

HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said, “A key strategic shift in the global IT industry has been the levelling of the playing field between the Indian origin service providers and the global MNCs. It is encouraging to note that HCL has continued its growth trajectory even in this environment.”

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The company has announced an interim dividend of Rs 2 per equity share of the face value of Rs 2 each.

Analysts had forecast a net profit of 5.74 billion rupees for the company, whose customers include Xerox Corp and Readers Digest Association Inc, according to Thomson Reuters Starmine data.

Agencies