HCL Technologies net up 6 per cent in Q3

In a regulatory filing on the BSE, the Noida-based IT firm said consolidated revenue for the quarter under review (Q3) grew 8.4 per cent annually to Rs 12,808 from Rs 11,814 crore in the like period year ago and 3 per cent sequentially from Rs 12,434 crore quarter ago. 

In dollar terms, net income, however, grew 11.2 per cent annually to 340 million USD for the quarter from $306 million in the same period year ago but flat (0.3 per cent) sequentially from $339 million in the like period quarter ago. 

Consolidated revenue under the International Financial Reporting Standard (IFRS) grew 13.9 per cent annually to $1,988 million from $1,745 million year ago and 3 per cent sequentially from 1,928 million USD quarter ago. The outsourcing firm maintained the revenue outlook for the fiscal at 12.1-14.1 per cent based on the average US dollar rate of Rs 65.5. 

Operating margin (Ebit) is expected to be 19.5-20.5 per cent for 2017-18. Earnings before interest and tax (Ebit) grew 4.2 per cent annually to Rs 2,510 crore from Rs 2,408 crore year ago and 2.4 per cent sequentially from Rs 2,451 crore. 

In dollar terms, Ebit, however, grew 9.4 per cent annually to $389 million from $355 million year ago and 2.5 per cent sequentially from 380 million USD quarter ago. HCL Chairman Shiv Nadar said the company continued to deliver socio-economic value for its diverse shareholders. 

“We remain focused on promoting diversity, localizing footprints and developing sustainable business models”, said Nadar in a statement later.