NEW DELHI, Oct 17: HCL Technologies Ltd today reported an increase of 63.8 per cent in net profit for the first quarter ended September 30 at Rs 1,416 crore against the same period last year.
The company follows a June to July calender year and September quarter marks its first quarter of the fiscal year.
The company’s revenue increased by 31.2 per cent at Rs 7,961 crore compared to the September quarter last fiscal.
The jump in net profit can be largely contributed to favourable currency during the quarter and efficiency gains, HCL said in a statement.
“Against the backdrop of encouraging macro economic trends, these results cement HCL’s position as a company with a strong and differentiated business model. HCL remains well positioned in both existing and emerging momentum markets – with exceptionally strong customer relationships driving sustainable growth,” said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.
Year-on-year growth of 42.8 per cent in net income and 14.1 per cent in revenues continues the 8 successive quarter of HCL’s story of profitable growth.
“Our focus on Generation 2 propositions like Enterprise of the Future in TM ITO and ALT ASM in Application Services continues to drive the company’s quality of revenue,” said Anant Gupta, President and CEO, HCL Technologies.
Growth was led by the Americas region which grew by 4 per cent while Europe grew by 1 per cent in constant currency terms.
The company said infrastructure Services continued to lead with growth at 8.8 per cent, followed by Business Services at 1.7 per cent, engineering and R&D services at 1.5 per cent and application services at 1.1 per cent, respectively.
Growth led by existing momentum verticals of financial services & manufacturing at 6.9 per cent and 5.4 per cent respectively and emerging momentum verticals of life sciences & healthcare and public services at 6.5 per cent and 3.1 per cent respectively
The company announced a dividend of Rs 2 per share.
HCL had a total of 87,196 employees at the end of the September quarter.
(UNI)
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