India's fourth largest IT services exporter HCL Technologies has declared its results for the quarter ended December 2010. It has reported consolidated net profit at USD 88.8 million in Q2 as against USD 72 million in previous quarter, a growth of 23.3% (QoQ), as per US GAAP.
Consolidated net sales jumped 7.48% to USD 864.1 million from USD 804 million (QoQ).
Consolidated earning before interest, depreciation, tax and amortisation (EBIDTA) also improved to USD 141 million from USD 130.8 million in Q1 of FY11. EBIDTA margin has seen slight improvement at 16.32% versus 16.27% (QoQ).
In rupee terms, HCL Tech reported consolidated net profit at Rs 400 crore in Q2 as against Rs 331 crore in previous quarter, a growth of 20.85%. Revenue increased just by 4.85% at Rs 3,888 crore from Rs 3,708 crore (QoQ).
Revenues from BPO services went up 2.9% to USD 49.5 million (QoQ).
Revenues from US were up by 5.8% (QoQ) and Europe up by 7.2% (QoQ).
Source: www.moneycontrol.com
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Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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