HCL net profit up 14 percent in fiscal 2015-16

Software major HCL Technologies on Monday reported Rs.7,254 crore net profit for fiscal 2015-16, registering a 14 percent growth year-on-year (YoY), as per the Indian accounting standard.

In a regulatory filing to the Bombay Stock Exchange (BSE), the outsourcing firm said the revenue for fiscal under review (FY 2015) increased 12.6 percent YoY to Rs.37,061 crore.

Under the International Financial Reporting Standard (IFRS), net income grew 12 percent YoY to $1,164 million ($1.2 billion) and revenue 11 percent YoY to $5,952 million ($6 billion) for FY 2015.

For the fourth quarter (April-June) of the fiscal under review, net profit was, however, down 2.8 percent YoY to Rs.1,783 crore, while revenue was up 16 percent YoY to Rs.9,777 crore under the Indian accounting standard.

Sequentially, net profit was up 5.9 percent and revenue 5.5 percent up from the previous (January-March) or third quarter of the last fiscal in rupee terms and 3.1 percent (net) and 3.2 percent (gross), respectively, under IFRS.

Under IFRS, net income for the quarter (Q4) under review was also down 8.8 percent YoY to $279 million while revenue was up by 9.3 percent to $1,538 million ($1.5 billion).

The Noida-based company follows July to June calendar year for its financial results.