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HCL Technologies Q3 profit jumps 73% to Rs1,039.9 crore

“A key reason behind HCL’s stellar performance over the last few years has been its focus on delivering technology led business process transformation to global 2000 corporations,” HCL Technologies vice-chairman Vineet Nayar said

Software services major HCL Technologies on Wednesday reported a 72.59% jump in consolidated net profit at Rs1,039.9 crore for the quarter ended 31 March 2013, on the back of growth in infrastructure and enterprise application services.

 

The company's net profit stood at Rs602.5 crore in the previous corresponding quarter, HCL Technologies said in a statement. The company follows July-June fiscal year.

 

HCL Tech's revenues stood at Rs6,424.6 crore during the reporting quarter, up 23.2% from Rs5,215.6 crore in the same quarter last year.

 

“We have delivered yet another quarter of strong performance. Our net margins have improved for six straight quarters and are up by 51.5% along with a robust 14.6% US dollar constant currency growth for the 12 month period ended 31 March 2013,” HCL Technologies president and CEO Anant Gupta said.

 

Gupta added: “Amidst a challenging and uncertain business environment, HCL continues on its growth trajectory fuelled by its Alternative Outsourcing (AO) approach led by two unique value propositions of Alternative ASM and Enterprise Function as a Service (EFaaS).”

 

“A key reason behind HCL’s stellar performance over the last few years has been its focus on delivering technology led business process transformation to global 2000 corporations.

 

“The future of the IT services industry will lie in transforming traditional outsourcing models to higher value, innovation driven, non-linear and outcome based business models,” HCL Technologies vice-chairman Vineet Nayar said.

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