HCL Technologies Posts 73% Rise In Net Profit

Employees work on their computer terminals on the floor of an outsourcing centre in Bangalore February 29, 2012. REUTERS/Vivek Prakash/Files

BANGALORE | Wed Apr 17, 2013 8:40am IST

(Reuters) – HCL Technologies Ltd(HCLT.NS), India’s fourth-biggest software services provider, beat analysts’ estimates with a 73 percent rise in quarterly profit after winning orders and keeping a lid on hiring.

Net profit rose to 10.4 billion rupees for the fiscal third-quarter ended March 31 from 6 billion rupees in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj(NOK1V.HE).

That compared with the average forecast of 9.35 billion rupees in a survey of 16 analysts by Thomson Reuters I/B/E/S. HCL follows a July-June fiscal year.

On Friday, larger rival Infosys Ltd(INFY.NS), which has been losing market share to the likes of HCL and industry leader Tata Consultancy Services Ltd (TCS)(TCS.NS), disappointed investors with lower-than-expected revenue guidance, sending its shares plunging 21 percent on the day.

TCS is due to report March quarter results later on Wednesday.

(Reporting By Harichandan Arakali; Editing by Chris Gallagher)


Source : Reuters.


One Comment Add yours

  1. This paragraph gives clear idea designed for the new visitors of blogging, that truly how to do blogging and site-building.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.