HCL Q3 net profit dips 41.9 per cent

HCL Technologies Ltd reported a 41.9 per cent dip in its profit to $30.4 million on Wednesday for the quarter ended March 31, 2009 as compared to $52.4 million in the same period a year before.

HCL Technologies Ltd, a leading information technology (IT) company, Wednesday reported a 41.9 per cent dip in its profit to $30.4 million (Rs 1,525.7 million) for the quarter ended March 31, 2009 as compared to $52.4 million (Rs 2,630.80 million) in the same period a year before.

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The company's total income decreased 17.7 per cent to Rs 10,930.7 million in the third quarter this year from Rs 13,291.3 million, a company statement said.

The group's net income too dipped 49.6 per cent to $43 million for the quarter ended March 31, 2009 as compared to $85.4 million in the same period last year.

The total revenues however, increased 18 per cent to $564.4 million from $477.5 million, the statement said.

The company said it won deals worth $1.5 billion over the last nine months, sealing 11 new contracts with customers including Nasdaq, Shoprite and Xerox.

"HCL's response to the challenging environment has been focussed on growth and investing in emerging trends and solutions that create value for our customers," chief executive Vineet Nayar said in a statement.