HCL Tech Profit escalates 52%
VARINDIA- INDIA'S FRONTLINE IT MAGAZINE
HCL has posted 52-per cent jump in net profit for April-June, as all its verticals and geographies posted strong growth.HCL said consolidated profit rose to Rs.511 crore for April-June, compared with a profit of Rs.337 crore a year ago. Revenue rose 27.5 per cent to Rs.4,300 crore, on an average exchange rate basis. A media poll of brokerages showed analysts expected profit to rise 45 per cent to Rs.494 crore, on the revenue of Rs.4,318 crore.HCL, which follows a July-June fiscal, however, raises wages only in its fiscal first quarter, enabling it to post better margins compared to peers. HCL, which added 3,626 employees on a net basis during April - June, said the operating margin was almost flat at 18.5 per cent for the period. At 09:35 AM, HCL shares, valued at more than $8 billion, were down 1.16 per cent at Rs.509 on the National Stock Exchange.
HCL has posted 52-per cent jump in net profit for April-June, as all its verticals and geographies posted strong growth.HCL said consolidated profit rose to Rs.511 crore for April-June, compared with a profit of Rs.337 crore a year ago. Revenue rose 27.5 per cent to Rs.4,300 crore, on an average exchange rate basis. A media poll of brokerages showed analysts expected profit to rise 45 per cent to Rs.494 crore, on the revenue of Rs.4,318 crore.HCL, which follows a July-June fiscal, however, raises wages only in its fiscal first quarter, enabling it to post better margins compared to peers. HCL, which added 3,626 employees on a net basis during April - June, said the operating margin was almost flat at 18.5 per cent for the period. At 09:35 AM, HCL shares, valued at more than $8 billion, were down 1.16 per cent at Rs.509 on the National Stock Exchange.For More Details See
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