For Quick Alerts
For Daily Alerts

HCL Tech Q2 net profit surges; margins a pleasant surprise

HCL Tech Q2 net profit surges; margins a pleasant surprise
HCL Technologies: Quotes, News
BSE 1100.85BSE Quote16.75 (1.52%)
NSE 1100.90NSE Quote16.4 (1.49%)
HCL Technologies has reported a sterling performance for the quarter ending Sept 30, 2013 with net profits surging 18.7%, quarter-on-quarter, while revenues have risen to Rs 7961 crores, a 14% jump.

US Dollar revenues have come in at 1270 million, a growth of 3.5%, quarter-on-quarter. Despite revenues coming in line with estimates, the profitability has surged largely on account of healthy expansion in margins.

"Against the backdrop of encouraging macro economic trends, these results cement HCL's position as a company with a strong and differentiated business model. HCL remains well positioned in both existing and emerging momentum markets - with exceptionally strong customer relationships driving sustainable growth," said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

"YoY growth of 42.8% in net income and 14.1% in revenues continues the 8 successive quarter of HCL's story of profitable growth. Our focus on Generation 2 propositions like Enterprise of the Future in ITO and ALT ASM in Application Services continues to drive the company's quality of revenue," said Anant Gupta, President and CEO, HCL Technologies.

"HCL continues to strengthen its position in the momentum markets of the industry with Europe crossing a milestone run rate of $ 1.5 bn reflecting a very healthy 23.6% growth YoY."

The company has managed to add six, 100 milllion + clients, while the fifure stoos at 11 for 50 million + clients for the quarter ending Sept 30, 2013.

Growth in the company was led by existing momentum verticals of financial services & manufacturing at 6.9% and 5.4%respectively and Emerging Momentum Verticals of Lifesciences & Healthcare and Public Services at

6.5% and 3.1% respectively.

The stock of HCL Tech is likely to open higher, given the performance that meets market expectations. It has already rallied significantly in the last few months.

Read more about: hcl tech q22014
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more