HCL Technologies is trading 1.2% higher at 1,426 on the BSE after the company reported a better-than-expected 8.5% sequential growth in consolidated net profit at Rs 1,624 crore for the third quarter ended March 31, 2014 (Q3).
Analysts, on an average, had expected profit of Rs 1,521 crore for the quarter. The company had reported a profit of Rs 1,496 crore in the December 2013 quarter.
Total consolidated revenues, however, grew by 2% at Rs 8,349 crore in March quarter against Rs 8,184 crore in December quarter.
The Q3 operating or EBITDA margin expanded 70bps sequentially to 26.7%, HCL Technologies said in a statement.
“We continue on our growth momentum with a strong revenue growth of 3% QoQ along with 10th straight quarter of margin expansion. Our EBIT has registered an impressive expansion of 7.1% sequentially and 44.5% YoY, resulting in a healthy EBIT margin of 24.6%,” said Anant Gupta, President and CEO, HCL Technologies.
The stock opened at Rs 1,451 and touched a high of Rs 1,455 on the BSE. A combined around 340,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
Analysts, on an average, had expected profit of Rs 1,521 crore for the quarter. The company had reported a profit of Rs 1,496 crore in the December 2013 quarter.
Total consolidated revenues, however, grew by 2% at Rs 8,349 crore in March quarter against Rs 8,184 crore in December quarter.
The Q3 operating or EBITDA margin expanded 70bps sequentially to 26.7%, HCL Technologies said in a statement.
“We continue on our growth momentum with a strong revenue growth of 3% QoQ along with 10th straight quarter of margin expansion. Our EBIT has registered an impressive expansion of 7.1% sequentially and 44.5% YoY, resulting in a healthy EBIT margin of 24.6%,” said Anant Gupta, President and CEO, HCL Technologies.
The stock opened at Rs 1,451 and touched a high of Rs 1,455 on the BSE. A combined around 340,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
