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24 October, 2018 04:15 IST
HCL Tech Q2 profit jumps 8.6% to Rs 21.88 bn
Source: IRIS | 25 Oct, 2017, 10.31AM
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HCL Technologies, one of the leading software exporters, registered a rise of 8.6% in the net profit to Rs 21.88 billion for the quarter ended September 30, 2017 as compared the same period last year. On sequential basis, the company registered rose of 0.8% in the net profit.

Revenues for the quarter rose 7.9% to Rs 124.34 billion, compared with Rs 115.19 billion for the prior year period. On sequential basis, the company registered rose of 2.3% in the revenues.

''As technology��"driven business models take root, organisations are adapting to the change by proactively investing in disruptions and technology innovations. HCL, with its responsible and responsive leadership and a focus on good Corporate Governance, Sustainable Business Model and Value Centric offerings, continues to deliver unmatched value to its stakeholders,'' said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

''This quarter marks the end of H1 of FY'18 which has seen us deliver a strong broad��"based growth across businesses. Our FY'18 H1 revenues grew at 11.7% over the same period last year and Net Income by 11.4%. This growth trajectory is a result of the momentum our Mode 2 and Mode 3 services have created in the market even as our Mode 1 services continue to punch their weight. Our mature verticals like Manufacturing and Financial Services, which together contribute to 60% of our revenues, grew at 21.9% and 14.2% respectively, quarterly YoY. Our Top 20 customers have grown faster than the company average, reflecting the strong performance of our Client Partner program,'' said C.Vijayakumar, President & CEO, HCL Technologies.

''We continue to deliver value for our stakeholders. Our Revenues this quarter grew 11.9% YoY in reported terms, while our Net Income increased by 12.6% YoY. This is reflected in higher earnings per share at Rs 62.7 which is up 10% YoY. Cash generation continues to be robust with our Net Income to Operating Cash Flow conversion in the last 12 months' at ~96%. Our investment in Mode 2 and Mode 3 services continues to be supported by higher Return on Equity (ROE) at 28%,'' said Anil Chanana, CFO, HCL Technologies.

Shares of the company declined Rs 11.85, or 1.3%, to trade at Rs 901.60. The total volume of shares traded was 101,770 at the BSE (10.18 a.m., Wednesday).

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

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