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HCL Tech surges 2.2% on robust Q2 numbers
HCL Technologies, a software services provider, has reported a consolidated profit after tax of Rs 573 crore in the second quarter of FY12, a massive and better than expected growth of 15.36% as compared to Rs 496.7 crore in the previous quarter.
HCL Technologies , a software services provider, has reported a consolidated profit after tax of Rs 573 crore in the second quarter of FY12, a massive and better than expected growth of 15.36% as compared to Rs 496.7 crore in the previous quarter.
Revenues shot up 13% to Rs 5,254 crore in the quarter ended December 2011 versus Rs 4,651.3 crore in the earlier quarter.
Topline was in line with expectations while bottomline was better that street estimates. CNBC-TV18 poll had expected revenues at Rs 5,245 crore and net profit of Rs 523 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) moved up sharply by 22.28% to Rs 972 crore from Rs 794.9 crore during the period. EBITDA margins too improved at 18.5% versus 17.1% quarter-on-quarter.
The company reported constant currency growth at 3.7% as against 5.1% quarter-on-quarter.
In a press conference post results, the company's management said it has bagged two USD 100 million plus deals in the second quarter and volume growth stood at 4.9%.
At 09:16 hrs the share was quoting at Rs 415.15, up Rs 9.10, or 2.24%. It touched an intraday high of Rs 424.25 and an intraday low of Rs 415.
It was trading with volumes of 28,862 shares. In the previous trading session, the share closed up 1.77% or Rs 7.05 at Rs 406.05.
