HCL Technologies Posts 32 Percent Jump in Quarterly Net Profit

HCL Technologies Posts 32 Percent Jump in Quarterly Net Profit
HCL Technologies Ltd, India's fourth-largest software services exporter, posted a 32 percent rise in quarterly net profit, beating estimates, as sales in the Americas, the company's biggest market, rose.

Shares in HCL Technologies, however, fell more than 8 percent on Friday, as the technology outsourcing company's revenue growth of 12.8 percent in dollar terms was below street expectations, stock market dealers said.

For most IT services companies, analysts and investors track the dollar sales numbers as clients oversees get billed in that currency.

HCL earned Rs. 1,873 crores ($303.44 million) in profit in the September quarter, compared to Rs. 1,416 crores last year. Analysts, on average, were expecting the profit to be at Rs. 1,729 crores, as per Thomson Reuters data.

HCL relies heavily on contracts to manage data centres and networks for revenue growth, whereas peers Tata Consultancy Services Ltd and Infosys Ltd earn a greater proportion of revenue from higher-margin software services.

© Thomson Reuters 2014


For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: HCL, HCL Technologies, Infosys, TCS
iPhone 6 and iPhone 6 Plus Sales Kick Off in China
EU's Alumnia Says Successor Will Decide on Android Investigations

Related Stories

Share on Facebook Tweet Snapchat Share Reddit Comment




© Copyright Red Pixels Ventures Limited 2021. All rights reserved.
Listen to the latest songs, only on JioSaavn.com