Q1 results: HCL Technologies profit rises 10%, beats estimates
HCL Technologies’ profit rose to ₹ 2,431 crore in the June quarter from ₹ 2,211 crore on revenue of ₹ 13,878 crore
Bengaluru: HCL Technologies Ltd, in its Q1 results declared Friday, beat analyst estimates for quarterly profit as it added more high-net worth clients and clocked strong growth at its software services business. Net profit attributable to shareholders rose to ₹ 2,431 crore ($353.73 million) in the quarter ended 30 June, from ₹ 2,211 crore, India’s fourth largest IT company said. Analysts were expecting ₹ 2,296 crore, as per Thomson Reuters I/B/E/S.
Revenue from operations rose 14.2% to ₹ 13,878 crore led largely by a 15.6% jump in its software services unit, its main revenue generator.
On Friday, shares of HCL Technologies Ltd rose 1.18%, or ₹ 11.25, to ₹ 963.70 on the BSE while the benchmark Sensex scaled the 37,000 points mark to close at 37,336.85.
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