HCL Tech Q3 net profit grows 14.4 pc to Rs 1,926 crore

IT services firm HCL Technologies today reported a 14.4 per cent increase in net profit at Rs 1,926 crore for the quarter ended March.
The Noida-based firm had posted a net profit of Rs 1,683 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement.
The company follows the July-June fiscal.
Its revenue for the reported quarter was up 15.4 per cent at Rs 10,698 crore, from Rs 9,267 crore in the same period a year ago.
In dollar terms, the company's net profit grew 5.5 per cent to USD 285.1 million while revenue rose 6.5 per cent to USD 1.58 billion in the third quarter of 2015-16 from the year-ago period.

"Our investments in BEYONDigital, IoT WoRKS and Next-Gen ITO helped us close FY16 year with a robust growth of 11.6 per cent LTM YoY in constant currency. This nine-month financial year, we signed 25 transformation deals with more than USD 4 billion of TCV," HCL Technologies President and CEO Anant Gupta said.

The company has significantly enhanced strengths in new-age services and domain leadership through strategic client acquisitions, he added.
The company has announced a dividend of Rs 6 per share.
During the quarter, HCL Technologies added 9,280 people (gross) and 1,200 (net) employees, taking the total headcount to 1,04,896 as on March 31, 2016.

HCL signed seven transformational deals this quarter with total contract value of over USD 2 billion. These wins were broad-based across service lines and industry verticals, led by next-generation offerings -- BEYONDigital, IoT WoRKS and Next-Gen ITO.
The company's cash and cash equivalents stood at Rs 729.3 crore at the end of March 31, 2016.
Primarily due to higher finance cost HCL Infosystems,
one of India's premier IT Services, Distribution and Digital Solutions Company, today announced its financial results for the second quarter ended September 30,2016. (Logo: http://photos.Prnewswire.Com/prnh/20160503/10145315 ) Mr. Premkumar, Executive Vice-Chairman and Managing Director, HCL Infosystems Ltd., commenting on the results said, "Our thrust on the Enterprise Business continues to deliver and despite headwinds from our Consumer Business, the contraction of loss is aligned to our turnaround journey. Augmented emphasis around SI project execution and commercial enablement for payment realization is a critical focus area ahead." Enterprise Business

Domestic Business
Global Business
The Global Services business in this quarter continued its positive momentum with a steady profitable business in Singapore and good traction in the Middle East. We have reached a critical milestone in a security & surveillance SI project for a utility company.
In Singapore, our customers continue to repose their confidence in us and we have renewed the contracts successfully for an extended period of time. Our customer satisfaction is best among peers and clearly eliciting further positive traction with our customers.
Consumer Business
The headwinds in the Consumer business due to portfolio gaps and product availability have impacted significantly (6% Q-o-Q decline in revenue).