HCL Technologies net profit in quarter surges 63.8 pct at Rs 1,416 cr

Oct 17 2013, 11:10 IST
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HCL Technologies' customers include Nokia Oyj, Xerox Corp  and AstraZeneca PLC. Reuters HCL Technologies' customers include Nokia Oyj, Xerox Corp and AstraZeneca PLC. Reuters
SummaryHCL Technologies quarterly profit beat market expectations.

to drive deal wins during the quarter," the company said.

HCL Technologies added 1,691 employees during the September quarter taking the total headcount to 87,196.

HCL Technologies also declared a dividend Rs 2 per share.

HCL Technologies shares fell 0.03 per cent to Rs 1,160 apiece in early trade on the BSE.

HCL Technologies' quarterly profit rises 64 pct, tops estimate

(Reuters) HCL Technologies, India's No. 4 IT services exporter, beat market expectations with a 64 percent rise in September quarter profit, joining larger Indian rivals in signalling accelerated spending by clients.

HCL Technologies' consolidated net profit for the three months ended Sept. 30 rose to 14.16 billion rupees ($229 million) from 8.64 billion rupees in the same period a year earlier, company said on Thursday.

That compares with the 13.36 billion rupee average of 25 analyst estimates - Quote: HCL Technologies.

HCL Technologies' customers include Nokia Oyj, Xerox Corp and AstraZeneca PLC. HCL Technologies follows a July-June fiscal year.

Tata Consultancy Services (TCS), the No. 1 Indian IT services provider, on Tuesday beat profit expectations for the September quarter and said it may increase hiring.

On Friday, No. 2 player Infosys increased the lower end its revenue forecast for the year ending in March and said clients were accelerating spending.

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