HCL Tech's Q1 profit rises 64 percent, tops estimate

BANGALORE (Reuters) - HCL Technologies , India's No. 4 IT services exporter, beat market expectations with a 64 percent rise in September quarter profit, joining larger Indian rivals in signalling accelerated spending by clients.

Consolidated net profit for the three months ended September 30 rose to 14.16 billion rupees from 8.64 billion rupees in the same period a year earlier, HCL Technologies said on Thursday.

That compares with the 13.36 billion rupee average of 25 analyst estimates according to Thomson Reuters I/B/E/S.

HCL's customers include Nokia Oyj , Xerox Corp and AstraZeneca PLC . HCL Technologies follows a July-June fiscal year.

Tata Consultancy Services , the No. 1 Indian IT services provider, on Tuesday beat profit expectations for the September quarter and said it may increase hiring.

 

On Friday, No. 2 player Infosys increased the lower end its revenue forecast for the year ending in March and said clients were accelerating spending.

(Reporting by Harichandan Arakali; Editing by Christopher Cushing)