HCL Technologies, one of the leading software exporters, disclosed a small rise in consolidated net profit for the quarter ended June 2017. During the quarter, the profit of the company rose 7.65% to Rs 22,100 million from Rs 20,530 million in the same quarter previous year. On quarter on quarter basis, it posted a fall of 10.67% in the net profit. Analysts on average had predicted net profit to come at Rs 20,430 million.

 

Revenues for the quarter rose 7.19% to Rs 124,620 million, compared with Rs 116,260 million for the prior year period.

 

 

Earnings per share for the quarter stood at Rs 15.41, registering 5.91% growth over previous year period.

 

FY'18 Guidance:

 

Revenue: FY'18 Revenues are expected to grow between 10.5% to 12.5% in Constant Currency.

 

Operating Margin (EBIT): FY'18 expected Operating Margin (EBIT) range is from 19.5% to 20.5%.

 

''As the societal structures, geo-political landscapes, demographic spread and economic forces undergo a constant change, HCL continues on its path of being a responsible and responsive leader. Our unique business model comprising best-in-class digital technology services, robust products and platforms portfolio, with a focus on sustainability, diversity and inclusion, continues to redefine the way we create unmatched socio��'economic value'', said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

 

''We continue to propel forward on our Mode 1-2-3 growth strategy, delivering a revenue growth of 2.6% QoQ and 12.2% YoY in constant currency terms in Q1’FY18. This quarter, we also expanded our EBIT margins from 20% to 20.1%, through continued superior execution in our core business, integration and assimilation of the acquired entities, as well as our IP investments,'' said C. Vijayakumar, President & CEO, HCL Technologies.

 

''Overall, we are happy with our first quarter FY'18 performance. Accompanied with USD revenue growth at 3.7%, we have demonstrated effective margin performance reporting EBIT at 20.1%, within the guidance range. Cash Flow generation continues to be robust with Net Income to Operating Cash Flow conversion at 104% on LTM basis. The share buyback of Rs 35 billion was successfully concluded during the quarter, which together with the dividend per share of ' 2 this quarter, is demonstrative of our balanced capital allocation focus,'' said Anil Chanana, CFO, HCL Technologies.

 

 

Shares of the company gained Rs 17.55, or 1.97%, to trade at Rs 909.00. The total volume of shares traded was 0 at the BSE (9.07 a.m., Thursday).