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18 January, 2019 19:28 IST
HCL Tech Q3 profit jumps 6% to Rs 21.94 bn
Source: IRIS | 19 Jan, 2018, 11.45AM
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HCL Technologies, one of the leading software exporters, registered a rise of 6% in the net profit to Rs 21.94 billion for the quarter ended December 2017 as compared to Rs 20.70 billion in the same period last year. On sequential basis, the company's profit up 0.3% to Rs 21.94 billion from Rs 21.88 billion in September 2016.

Revenues increased 8.4% to Rs 128.08  billion for the quarter ended Dec. 31, 2017 from Rs 118.14  billion in the same period last year. On sequential basis, the revenues grew 3% from Rs 124.34 billion in September 2016.

''As world leaders drive a shared vision for sustained and inclusive global development, HCL continues to deliver lasting socio��"economic value for its diverse stakeholders. We remain focused on promoting diversity, localizing footprints and developing sustainable business models,'' said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

''We finished last quarter on a strong note, with a growth of 3.3% sequentially and 11.2% year on year in constant currency terms. Our Mode 1-2-3 strategy and success of our client partner program for top accounts, continued to drive industry leading growth. Over 25% of our revenues this quarter came from Mode 2 and Mode 3 services, which strongly validates the success of our next��"gen offerings in the market. This was a strong quarter in terms of deal signings where we signed twenty transformational deals across services,'' said C. Vijayakumar, President &
CEO, HCL Technologies.

''We had a strong quarter marked by 11.2% year on year industry leading revenue growth in constant currency terms. The value addition we are delivering, backed by our investment strategy, is reflected in our EBITDA margin which has increased to 23.1% this quarter. Our focused investment in Mode 2 and Mode 3 offerings is reflected in our robust growth across mature geographies and key verticals like Financial services and Manufacturing. We have posted healthy Return on Equity at 27.3% during last 12 months,'' said Anil Chanana, CFO, HCL Technologies.

Shares of the company gained Rs 5.1, or 0.53%, to trade at Rs 959.95. The total volume of shares traded was 66,022 at the BSE (11.32 a.m., Friday).

H C L Technologies Limited   (Q,N,C,F)*

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