HCL Tech Q2 Net up Marginally; Dollar Revenue Grows 5 Percent

In dollar terms, the company’s net profit declined 5.4 percent while revenues grew 5.1 percent.

(Photo: Reuters)

• Consolidated net profit rose 0.2 percent to Rs 1,920 crore.
  
• Consolidated revenues grew 11.4 percent at Rs 10,341 crore.
  
• In dollar terms, the company’s net profit declined 5.4 percent to $290.8 million in the reported quarter, while revenues grew 5.1 percent to $1.56 billion.
  
• The company signed 8 transformational engagements in the quarter worth over $1 billion.
  

India’s fourth-largest software services exporter HCL Technologies on Tuesday reported 0.2 percent rise in consolidated net profit at Rs 1,920 crore for the second quarter ended 31 December 2015.

HCL Technologies, which follows July-June fiscal year, had posted a net profit of Rs 1,915 crore in the year-ago period, it said in a BSE filing. Consolidated revenues grew 11.4 percent at Rs 10,341 crore in the October-December quarter as against Rs 9,283 crore 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 crore and revenues of Rs 10,097 crore. In dollar terms, the company’s net profit declined 5.4 percent to $290.8 million in the reported quarter, while revenues grew 5.1 percent to $1.56 billion.

<p>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.</p>

<b>Anant Gupta, President and CEO, HCL Technologies</b>

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

The company signed 8 transformational engagements during this quarter with more than $1 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.