HCL Technologies Q2 net profit rises marginally to Rs 1,920 crore

Mumbai(PTI): India’s fourth-largest software services exporter HCL Technologies on Monday reported 0.2% rise in consolidated net profit at Rs 1,920 crore for the second quarter (Q2) ended December 31, 2015. HCL Technologies, which follows July-June fiscal year, had posted a net profit of Rs 1,915 crore in the year-ago period, it said in a BSE filing.

Consolidated revenues grew 11.4% at Rs 10,341 crore in the October-December quarter as against Rs 9,283 crore in the same quarter of the 2014-15 fiscal. In the July-September quarter, the firm had reported a net profit of Rs 1,726 crore and revenues of Rs 10,097 crore.

“Revenue growth of 13.5% YoY in constant currency terms this calendar year” Anant Gupta, President & CEO

In dollar terms, the company’s net profit declined 5.4% to $290.8 million (nearly Rs 1,968.72 crore) in the reported quarter, while revenues grew 5.1% to $1.56 billion (nearly Rs 10,561.2 crore).
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“We have achieved a revenue growth of 13.5% year-on-year in constant currency terms this calendar year. 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,” HCL Technologies President and CEO Anant Gupta said.

For the quarter ended December, HCL Technologies had cash equivalents of Rs 1,762.3 crore. The company signed 8 transformational engagements during this quarter with more than $1 billion (nearly Rs 6,770 crore) of total contract value (TCV).
“The broad-based business wins across service lines and industry verticals were driven by next generation offerings Next-Gen ITO, BEYONDigital and IoT Works,” the company said.
The total headcount stood at 1,03,696 at the end of December 2015, with gross additions at 6,234. The attrition for IT services on Last Twelve Months (LTM) basis stood at 16.7%.
At 1257 hours, the shares of HCL Technologies were trading down at 1.06% or Rs 8.90 at Rs 834.45 per scrip intraday on the BSE.