HCL Technologies
first quarter net profit rose 78% year-on-year (4% sequentially) to Rs
885 crore, sending its shares to a 52-week high as the India's fourth largest
software services provider yet again topped street expectations.
Revenue in July-September quarter, was a little
lower-than-expected Rs 6,091 crore, up 31% from a year ago (3%
quarter-on-quarter).
Analysts on average had expected HCL Tech to report a net
profit of Rs 788 crore on revenue of Rs 6,150 crore, according to a CNBC-TV18
poll.
HCL Tech's robust growth is in sharp contrast to its
Bangalore-based rival Infosys, which had last week reported second quarter net
profit largely in-line with expectations with disappointed the street with a
deeper cut in full year earnings per share guidance.
Its earnings before interest, taxes, depreciation and
amortization were up 70% YoY to Rs 1,351 crore and EBITDA margin was at 22.2%
in the first quarter, compared with 22% in Q4 and 17.1% in the year ago first
quarter.
HCL Tech had a foreign exchange loss of Rs 61 crore in
July-September, compared with a loss of Rs 18 crore a year ago.
In US dollar terms, HCL Tech's net income rose 51%
year-on-year (4% sequentially) to USD 162 million and revenue was up 11% (3%
quarter-on-quarter) to USD 1.1 billion.
HCL Tech's strong earnings growth came on the back of
several new deal wins and growth across its key geographies of US and Europe,
which grew 18% and 17% respectively in US dollar terms on a LTM (last twelve months) basis.
It won 12 multi-year multi-million dollar deals during the
quarter, across manufacturing, financial services and consumer services
verticals.
It had 85,335 employees at the end of the last quarter, up
from 80,520 a year ago.
HCL Tech shares hit a 52-week high of Rs 606.90 on NSE post
the results. At 9:30 hrs, the stock was at Rs 595.90, up 2%.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
No comments:
Post a Comment