HCL Reports 16.7% Growth in Net Profit at INR 2,014 crore

HCL Technologies reported 16.7% growth year-on-year in net profit at INR 2,014 crore for the quarter ended September 30.
However, on a quarter-on-quarter (QoQ) basis, net profit slipped 1.6%. HCL Technologies maintained constant currency guidance at 12-14% for FY17.
Total revenues grew 14.1% on a YoY basis to INR 11,519 crore. However, on a qaurter-on-qaurter basis, there was a small rise of 1.6 per cent, said HCL Technologies in the release.
The company also informed BSE that C Vijayakumar, Chief Operating Officer, has been elevated to the position of the President and Chief Executive Officer.
The company also added that it has entered an agreement to acquire Butler America Aerospace to provide engineering, design services, and aftermarket engineering services to US aerospace and defence customers.
“HCL continues to be the partner of choice for the 21 Century Enterprise through our differentiated strategy encompassing core services, integrated next-generation offerings and platforms, in-line with our Mode 1-2-3 growth strategy,” said C Vijayakumar, President & CEO, HCL Technologies.
“This has helped us deliver a strong growth of 2.8% (QoQ) and 12.8% (YoY) this quarter in constant currency terms on the back of strong Q1 FY’17 performance of 6% QoQ growth in constant currency,” he added.
HCL Technologies continued adding strong clients during the quarter. The IT major added USD 1 million-plus clients up by 8%, USD 10 million-plus clients up by 13%, USD 20 million-plus clients up by 7%, USD 40 million-plus clients up by 10%, USD 50 million-plus clients up by 2%, and USD 100 million-plus clients up by 1%.

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