HCL Tech Q1 net up 32.3 percent

Software service provider HCL Technologies Friday posted a 32.2 percent rise in consolidated net profit for the first quarter ended Sep 30, 2014, a company statement said here.

The company posted a net profit of Rs.1,873 crore of the July-September quarter. It follows a July-June financial year.

In dollar terms, the net profit rose by 36.1 percent to $305.4 million Sep 30 compared to $225.6 million posted during the same quarter last year.

"We have posted another healthy quarter of broad-based growth led by a revenue increase of 3.2 percent quarter-on-quarter in constant currency. Our customer acquisition momentum continues with yet another billion dollar quarter driven by strong growth in Global Infrastructure Services at 16.9 percent year-on-year (y-o-y) & engineering and R&D Services at 14.1 percent y-o-y. We have also added 15 Fortune 500/Global 2000 clients this quarter," Anant Gupta, chief executive officer, HCL Technologies said.

"Going forward our investments will continue in the three strategic markets of IT outsourcing, engineering services, outsourcing and the emerging digitalization space which will enable a continued balanced business portfolio performance for the company", he added.

Consolidated revenues grew 9.7 percent at Rs.8,735 crore in the July-September quarter of this fiscal compared to Rs.7,961 crore in the corresponding quarter of the last year.

The total headcount of the company stands at 95,522 and it added gross 11,631 employees (gross) during the first quarter.

The company's shares were trading at Rs.1,502.90 per share, down 9.25 percent at the Bombay Stock Exchange in afternoon trade.