HCL Technologies Posts Marginal Rise in Q2 Net Profit

HCL Technologies Posts Marginal Rise in Q2 Net Profit
India's fourth-largest software services exporter HCL Technologies Tuesday reported 0.2 percent rise in consolidated net profit at Rs. 1,920 crores for the second quarter ended December 31, 2015.

HCL Technologies, which follows July-June fiscal year, had posted a net profit of Rs. 1,915 crores in the year-ago period, it said in a BSE filing.

Consolidated revenues grew 11.4 percent at Rs. 10,341 crores in the October-December quarter as against Rs. 9,283 crores in the same quarter of the 2014-15 fiscal.

In the July-September quarter, the firm had reported a net profit of Rs. 1,726 crores and revenues of Rs. 10,097 crores.

In dollar terms, the company's net profit declined 5.4 percent to $290.8 million (roughly Rs. 1,964 crores) in the reported quarter, while revenues grew 5.1 percent to $1.56 billion (roughly Rs. 10,537 crores).

"We have achieved a revenue growth of 13.5 percent year-on-year in constant currency terms this calendar year. As part of HCL's 21st Century Enterprise blueprint, our investments and focus on BEYONDigital, Next-Gen ITO and IoT WoRKS is enabling us to stay ahead of the curve and achieve a healthy business growth and financial performance," HCL Technologies President and CEO Anant Gupta said.

For the quarter ended December, HCL Technologies had cash and cash equivalents of Rs. 1,762.3 crores.

The company signed 8 transformational engagements during this quarter with more than USD one billion of total contract value (TCV).

"The broad-based business wins across service lines and industry verticals were driven by next-generation offerings - Next-Gen ITO, BEYONDigital and IoT WoRKS," the company said.

Total head count stood at 1,03,696 at the end of December 2015, with gross additions at 6,234.

The attrition for IT services on LTM basis stood at 16.7 percent.

Shares of the company were trading 2.36 percent down at Rs. 823.45 apiece during morning session on the BSE.


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