HCL Technologies Q2 net up marginally at Rs 1,920 crore

NEW DELHI: HCL Technologies reported an almost flat growth in net profit at Rs. 1,920 crore for the three months ended December 31, 2016 compared to the same period last year. On a sequential level, profit grew by 11.2 per cent. This came on back of revenues of Rs. 10,341 crore, up 11.4 per cent year-on-year and 2.4 per cent sequentally.

Anant Gupta, president & CEO, HCL Technologies Ltd said that the company faced the challenging Chennai situation early in the quarter but managed to tide over it well. “As part of HCL's 21st Century Enterprise blueprint, our investments and focus on BEYONDigital, Next–Gen ITO and IoT WoRKS is enabling us to stay ahead of the curve and achieve a healthy business growth and financial performance," he said. Hcl has achieved a revenue growth of 13.5% year on year in constant currency terms this calendar year, Gupta added.

The growth for the company was broadbased with Americas, Europe and rest of the world growing by 13.8%, 15.1% and 7.9% respectively and was driven by engineering and R&D Services which grew at 23%, business services at 23.9%. Infrastructure Services which HCL's largest business grew at 16.4%.

“Our performance in this quarter continues to reflect the return from the investments we have been making. The return on equity for calendar 2015 at 29% has been amongst the best in the Industry”, said Anil Chanana, CFO, HCL Technologies.