HCL Tech Q3 net profit up 3.6% at Rs 1,683 crore | business | Hindustan Times
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HCL Tech Q3 net profit up 3.6% at Rs 1,683 crore

business Updated: Apr 21, 2015 10:53 IST
Hindustan Times

IT services firm HCL Technologies on Tuesday reported a 3.6% increase in net profit at Rs 1,683 crore for the quarter ended March 31, 2015.

The Noida-based firm had posted a net profit of Rs 1,624 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement.

The company follows July-June fiscal. Its revenue for the reported quarter was up 11% at Rs 9,267 crore from Rs 8,349 crore in the corresponding period a year ago.

However, on sequential basis, the net profit declined by 12.2% from Rs 1,915 crore in Q2 FY2014-15 and revenue dipped 0.2% from Rs 9,283 crore.

In dollar terms, the company's net profit grew 2.3% to $270 million, while revenue rose 9.5% to $1.49 billion in Q3 of FY15 from the year-ago period.

"HCL continues to deliver broad-based growth across geographies, verticals and horizontals. This quarter saw our revenue increase by 14.4% (last 12 months year-on-year) in constant currency and we gained significant market share fuelled by transformational deal bookings in excess of $1 billion," HCL Technologies President & CEO Anant Gupta said.

These engagements were primarily driven from industries like consumer services, manufacturing and public services and the European region, he added.

The company has announced a dividend of Rs 4 per equity share.

During the quarter, HCL Technologies added 11,041 people (gross) and 3,944 (net) employees, taking the total headcount to 1,04,184 as on March 31, 2015.

HCL has signed 14 transformational engagements during this quarter adding up to more than $1 billion of total contract value, led by consumer services, manufacturing and public services verticals.

The company's cash and cash equivalents stood at Rs 838 crore at the end of March 31, 2015.

"The operating margin metrics and enhanced working capital requirements have impacted our cash flows and are an outcome of our focused investment agenda for enhancing capability build up and delivery dynamics of large engagements," HCL Technologies CFO Anil Chanana said.