For Quick Alerts
For Daily Alerts

HCL Tech Q3 Net Up 0.3 Per cent At Rs 1,926 Crore

By Religare

India's fourth largest IT services provider, HCL Technologies Limited on Thursday announced that its third quarter FY 2015-16 consolidated net profit rose by a miniscule 0.3 per cent to Rs 1,926 crore from the previous quarter.

HCL Tech Q3 Net Up 0.3 Per cent At Rs 1,926 Crore
HCL Technologies: Quotes, News
BSE 1016.05BSE Quote2.25 (-0.22%)
NSE 1015.60NSE Quote2.95 (-0.29%)

The Noida-based company has reported consolidated revenue of Rs 10,698 crore in the January-March 2015-16 quarter, representing sequential growth of 3.4 per cent, HCL Technologies Limited said in a filing to the Bombay Stock Exchange (BSE).

In constant currency terms, the company's consolidated revenues for the third quarter ended March 31, 2016 climbed by 1.3 per cent, quarter-on-quarter to USD 1,587 million led by a 3.7 per cent growth in its Americas business. However, net income dropped 2 per cent from the December quarter to USD 285 million in Q3.

HCL Technologies added three clients in the 40 million plus category and one in the 100 million + segment in the third quarter ended March 31, 2016.

"A new set of 21st century enterprises are emerging, posing a threat to the dominance of traditional leaders. These 21st century enterprises are experience centric, services oriented, agile, lean and ecosystem driven. The market is undergoing a tectonic shift as sales and earnings of blue chip majors are under pressure, while average life spans are declining", the company said.

Shares of the firm tumbled by 3.75 per cent at Rs 806.25 a piece on the BSE at 11:33 AM IST as investors reacted negatively to HCL Technology's tepid Q3 numbers.

Read more about: hcl technologies
Company Search
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