HCL Technologies, the global IT services provider, reported a consolidated net profit of Rs 10.21 billion; up 59% and revenue of Rs 64.3 billion; up 29.8% for the third quarter. On quarter on quarter basis, it posted a rise of 8.5% in the net profit and 2% in the revenue.

Commenting on the results, Dipen Shah, head- private client group research, Kotak Securities said, ''HCL Tech's results were higher than expectations, on the margins front. Revenue growth of 2.9% in CC terms was in line with expectations. It is also higher than that reported by Infosys and TCS.''

''HCL Tech has reported high revenue growth and consistent improvement in margins over the past few quarters. The company needs to improve growth rates in non-IMS businesses and implement more levers to sustain margins as utilization levels are at high levels and cost efficiencies may not yield significant gains, going ahead,'' he added.

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