Beating estimates, the software services major HCL Technologies
reported a 72.59 per cent jump in consolidated net profit at Rs 1,039.9 crore for the quarter ended March 31, 2013. New deals along with growth in infrastructure and enterprise application services helped the company post impressive quarterly earnings in an uncertain environment.
The company that follows July-June fiscal year said its net profit stood at Rs 602.5 crore in the January-March quarter of 2012.
HCL Tech's revenues stood at Rs 6,424.6 crore during the reported quarter, up 23.2 per cent from Rs 5,215.6 crore in the same quarter last year.
"We have delivered yet another quarter of strong performance. Our net margins have improved for six straight quarters and are up by 51.5 per cent along with a robust 14.6 per cent US dollar constant currency growth for the 12 month period ended March 31, 2013," HCL Technologies President and CEO Anant Gupta said.
Gupta added: "Amidst a challenging and uncertain business environment, HCL continues on its growth trajectory fuelled by its Alternative Outsourcing (AO) approach led by two unique value propositions of Alternative ASM and Enterprise Function as a Service (EFaaS)."
"A key reason behind HCL's stellar performance over the last few years has been its focus on delivering technology led business process transformation to global 2000 corporations.
"The future of the IT services industry will lie in transforming traditional outsourcing models to higher value, innovation driven, non-linear and outcome based business models," HCL Technologies Vice Chairman Vineet Nayar said.
HCLT's staff strength was reduced by 791 people during the quarter, as it continued to lose people for second consecutive quarter.
The total employee count stood at 84,403 as on March 31, 2013 from 85,194 on December 31, 2012.With PTI inputs