HCL Technologies Q4 results; net income for quarter at Rs 1,783 crore

NEW DELHI: India’s fourth-largest IT services company HCL Technologies Limited's fourth-quarter revenue rose 5.5 per cent sequentially to Rs 9,777 crore.

Net income for the quarter ended 30 June was Rs 1,783 crore, up 5.9 per cent sequentially.

HCL stock was down 2.34 per cent in premarket trading on the BSE on Monday.

“HCL has yet again posted a broad-based performance for the financial year led by a robust revenue growth of 15.1 per cent LTM YoY and 2.9 per cent sequentially in constant currency. All our verticals posted strong double-digit performance in FY15 and industry leading growth in US and Europe with 14 per cent and 18.7 per cent LTM YoY constant currency growth respectively," said Anant Gupta, President & CEO, HCL Technologies Ltd.

Revenue at HCL's fastest growing business infrastructure services, grew 5.2 per cent in constant currency during the quarter, compared with 3.1 per cent last quarter. Revenue in the engineering and R&D services vertical grew 1.9 per cent during the quarter, compared with growth of 4.6 per cent last quarter.

Gross margin fell to 34.2 per cent in the fourth quarter from 35.3 per cent last quarter. Analysts had expected better margins due to rupee depreciation and absence of one time costs incurred last quarter.

Attrition rate, or employees leaving the company, was almost the same at 16.5 per cent compared with 16.2 per cent last quarter. HCL reported gross addition of 9,448 employees in the quarter ended 30 June.