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HCL Tech Q3 Net Profit Spurts 14.4%

Published: 29th April 2016 06:46 AM  |   Last Updated: 29th April 2016 06:46 AM   |  A+A-

NEW DELHI: Buoyed by growth in lifesciences, public services and telecom, HCL Technologies on Thursday posted a 14.4% rise in net profit at Rs 1,926 crore for the March quarter.

The Noida-based firm, which booked deals worth over $2 billion this quarter, saw revenues growing 15.4 per cent to Rs 10,698 crore, from Rs 9,267 crore in January-March of 2015.

The company follows the July-June fiscal, but will now move to April-March to comply with changes in the Companies Act, 2013. However, HCL’s net profit went up just 0.3% from Rs 1,920 crore in the December 2015 quarter while revenue grew 3.4% from Rs 10,341 crore.

Anant Gupta, president and CEO of HCL Technologies said, “Our investments in BEYONDigital, IoT WoRKS and Next-Gen ITO helped us close FY16 year with a robust growth of 11.6% y-o-y in constant currency. This nine-month financial year, we signed 25 transformation deals with more than $4 billion of total contract value (TCV).”

Gupta said financial services revenues declined by 1.3 per cent, but those from lifesciences and healthcare grew 6.4 per cent, public services 7.1 per cent and telecom, media, publishing and entertainment 4.2 per cent on a quarterly basis.

The company announced a dividend of Rs 6 per share.

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