HCL Q1 profit up 7.6%; 10.5-12.5% growth forecast lifts stock

HCL had reported profits of Rs 2053 crore on revenue of Rs 11626 crore in the same period last year.

HCL Technologies, fourth largest software exporter, beat Street estimates to report a 7.6 per cent jump in June quarter profit to Rs 2,210 crore, as it business grew across divisions and regions. Revenue grew 7.2 per cent to Rs 12,462 crore, with more clients for digital services in an environment where there is pressure on outsourcing services. It had profit of Rs 2,053 crore on revenue of Rs 11,626 crore in the same period last year. HCL maintained its earlier revenue growth forecast of 10.5-12.5 per cent in constant currency for the year ahead.

“We see a positive environment. While the