Growth push: HCL Tech profit up 52%

Software major HCL Technologies posted a strong 52.0% year-on-year jump in net profit at Rs 510 crore for the quarter ended June against Rs 337 crore last year, backed by strong growth across all its units and regions.

Software major HCL Technologies posted a strong 52.0% year-on-year jump in net profit at Rs 510 crore for the quarter ended June against Rs 337 crore last year, backed by strong growth across all its units and regions.

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Revenues rose 27.5% to Rs 4,300 crore during the April-June quarter. The company calculates its fiscal year from July to June.

The company gave a rosy outlook despite prevailing economic uncertainties in the US and Europe based on increasing churn of existing IT services contract of global vendors.

“New IT deals may not increase because of the adverse macro-economic factors, however we see opportunity in the churn of existing IT deals with global vendors that comes up for renegotiation,” said Vineet Nayar, vice-chairman and CEO, HCL Technologies.