HCL Tech outperforms Infosys, Wipro
Revenue grew sequentially by 3.4 per cent to $1,407 million, compared to Infosys' 2 per cent and Wipro's 1.2 per cent; TCS was higher at 5.5 per cent.
By TNN | Updated:
NEW DELHI: HCL Technologies outperformed Infosys and Wipro in the June quarter, but its sequential revenue growth was lower than that of India's IT services market leader TCS. The growth came in a little lower than most analysts' expectations, which pushed HCL's share price down by about 2.5 per cent on Thursday.
Revenue grew sequentially by 3.4 per cent to $1,407 million, compared to Infosys' 2 per cent and Wipro's 1.2 per cent; TCS was higher at 5.5 per cent.
Net profit grew sequentially by 16 per cent to $305 million. All its peers saw a decline in sequential net profit growth because of salary increments in the April-June period; HCL gives salary increments in October. The operating margin was marginally down on account of the impact of rupee appreciation.
Revenue grew sequentially by 3.4 per cent to $1,407 million, compared to Infosys' 2 per cent and Wipro's 1.2 per cent; TCS was higher at 5.5 per cent.
Net profit grew sequentially by 16 per cent to $305 million. All its peers saw a decline in sequential net profit growth because of salary increments in the April-June period; HCL gives salary increments in October. The operating margin was marginally down on account of the impact of rupee appreciation.
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