HCL Tech Q4 rises 42 percent on higher orders

HCL Tech Q4 rises 42 percent on higher orders

Summary: India's no. 4 outsourcing company beat expectations with a profit of 12.1 billion rupees (US$197.8 million), on the back of a "strong quarter" in line with rest of the industry.

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TOPICS: Outsourcing, India
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HCL Technologies has posted a better than expected fourth quarter profit, lifted by order wins.

India's number 4 outsourcing company bookeded a 41.6 percent increase in its net profit at 12.1 billion rupees (US$198 million) for the quarter ended June, according to a press release on Wednesday. That's above the 10.6 billion rupees (US$173.58 million) forecast from a Reuters poll.

Revenue was up 17.3 percent from the previous year at 60.94 billion rupees (US$997.78 million).

net income HCL
The three months ended-June was a "strong quarter" for HCL in line with the rest of industry. (credit: HCL)

Anant Gupta, president and CEO, of HCL Technologies noted the company had recorded an "exceptional growth of 22 percent" for the financial year and led the industry in profitable growth. This was on the back of seven successive quarters of net income margin expansion, he added in the statement.

"We have consolidated our leadership position in the Infrastructure Management Services and verticals like Financial Service and Lifesciences & Healthcare," said Gupta.

The positive results echo those of rivals Tata Consultancy Services (TCS) which booked a 10 percent profit growth, and Wipro which posted an 11 percent profit growth for the same period. Wipro had remarked it was seeing a large pickup in large deal closures.

Topics: Outsourcing, India

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Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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