HCL Tech Q3 Net Profits At Rs 1683 Crores; Marginally Below Estimates

HCL Tech reported results that were marginally below estimates with net profits coming in at Rs 1683 crores, on revenues of Rs 9267 crores for the quarter ending March 31, 2015.

Revenues in dollar terms was places at 1491 million. The EBIT margins dropped to 21.3 per cent vs 24.6 per cent in the corresponding period of last year as cross currency headwinds continued to play on margins.

The stock is expected to open lower in trade, after closing at Rs 911 on the National Stock Exchange on Monday.

"HCL continues to deliver broad-based growth across geographies, verticals and horizontals. This quarter saw our revenue increase by 14.4% LTM YoY in constant currency and we gained significant market share fuelled by transformational deal bookings in excess of USD1 billion. These engagements were primarily driven from industries like Consumer Services, Manufacturing and Public Services and the European region", said Anant Gupta, President & CEO, HCL Technologies Ltd.

The company has declared a dividend of Rs 4 per share. The client addition in the quarter continued: 50 Million dollar + clients up by 1, 30 Million dollar + clients up by 1, 20 Million dollar + clients up by 4.

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Story first published: Tuesday, April 21, 2015, 9:51 [IST]

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