HCL Tech's Q3 net profit falls 13.6% to Rs 3,442 cr, revenue rises 15.7%

On constant currency basis, revenue was up 7.6% sequentially, one of the best quarters in the last 12 years, said the IT firm

HCL Technologies’ third quarter revenue growth beat Street estimates, but supply-side cost, increments and taxation pulled down net profit.

The company reported a net profit of Rs 3,442 crore, down 13.6 per cent year-on-year (YoY). Net profit was, however, up 5.4 per cent on a sequential basis. Revenue for the quarter grew 15.7 per cent YoY to Rs 22,331 crore, and rose 8.1 per cent sequentially.

On a constant currency basis, HCL Tech’s revenue was up 7.6 per cent sequentially, one of the best quarters in the last 12 years, said the company.

In terms of peer comparison, HCL Tech's sequential revenue growth