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HCL Tech Q2 FY 2016 Net Profits At Rs 1912 crores; Beats Estimates

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HCL Tech reported a net profit of Rs 1912 crores for the second quarter ending Dec 31, 2015, largely beating estimates.

Rupee revenues at Rs 10,341 crores, was up 2.4 per cent quarter-on-quarter and was in line with estimates.

HCL Tech Q2 FY 2016 Net Profits At Rs 1912 crores; Beats Estimates
Dollar Revenue during the period was placed at US$ 1,566 mn; up 1.4% QoQ & up 5.1% year-on-year. This was also in line with most estimates and the street may cheer the quarterly numbers.
 

The company has announced a dividend of Rs 6 per share.The EBIT margin for the company during the quarter was 20 per cent, which was also in line with consensus estimates.

The company said that it has seen a broad based growth during Calendar Year 2015 (CY'15) across all revenue segments driven by Engineering and R&D Services at 23.0%, Business Services at 23.9% and Infrastructure Services at 16.4% on Constant Currency basis.- Strong client addition continues in CY'15: 50 Million dollar + clients up by 3, 30 Million dollar + clients up by 5, 20 Million dollar + clients up by 5.

"HCL has always been at the forefront of changing market dynamics. As a company with good

corporate governance practices and robust financial performance we continue to create exceptional value, both for businesses as well as communities in which we operate. We are proud to launch HCL Grant- an initiative to empower, enhance and instutionalise the work being done by NGOs in India, by offering them strong governance frameworks and management capabilities", said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies Ltd.

Continuing its momentum of deal wins, HCL booked business in excess of USD 1 billion in TCV this quarter,

including 8 transformational deals. The broad-based business wins, across service lines and industry verticals

were driven by next-generation offerings-Next-Gen ITO, BEYONDigital and IoT WoRKS

The shares of HCL Tech could open higher in trade when the markets open later today.

GoodReturns.in

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