HCL Tech Q3 revenue up by 6 per cent to Rs 2,194 crore

 BusinessToday.in   New Delhi     Last Updated: January 19, 2018  | 13:45 IST
HCL Tech Q3 revenue up by 6 per cent to Rs 2,194 crore

India's fourth largest IT firm HCL Technologies Ltd on Friday said that it has recorded 6 per cent growth in October-December quarter. The IT firm posted a consolidated profit of Rs 2,194 crore, marginally higher than Rs 2,070 crore booked in the same period of previous year.

HCL in a statement said that its revenue grew 8.4 per cent to Rs.12,808 crore, from Rs 11,814 crore in the year-ago period. In dollar terms, the company's net profit grew 11.2 per cent to $340.3 million, while revenues rose 13.9 per cent to $1.98 billion compared to the year-ago period.

Speaking on the result, HCL Tech President and CEO C Vijayakumar said: "We finished last quarter on a strong note, with a growth of 3.3 per cent sequentially and 11.2 per cent year-on-year in constant currency terms." He further said that this was a strong quarter in terms of deal signings where HCL signed 20 transformational deals across services. The IT company has also announced a dividend of Rs 2 per share.

HCL's revenue in 2018 is expected to grow between 10.5 per cent to 12.5 per cent in constant currency terms, the company said in a tweet.  

Revenues from America grew at 16.6 per cent in the reported quarter from the year-ago period, while that from Europe and the Rest of World was higher by 2.5 per cent in constant currency terms.

Financial services witnessed a 10.6 per cent growth on a yearly basis, manufacturing 21 per cent, life sciences and healthcare 9.7 per cent, and retail and CPG at 13.1 per cent. Public services vertical grew marginally, while revenues from telecommunications, media, publishing and entertainment declined by 6.8 per cent.

(With inputs from PTI)

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