Advertisement

HindustanTimes Sun,20 Apr 2014

HCL Technologies' Q1 profit rises 64%, tops estimate

Reuters  Bangalore, October 17, 2013
First Published: 09:42 IST(17/10/2013) | Last Updated: 09:48 IST(17/10/2013)

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

Advertisement

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

That compares with the Rs. 13.36 billion average of 25 analyst estimates according to Thomson Reuters. HCL's customers include Nokia Oyj, Xerox Corp and AstraZeneca PLC. HCL Technologies follows a July-June fiscal year.

Tata Consultancy Services, 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.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved