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Apr 23, 2009, 09.55 AM IST
HCL Technologies reported a net profit of Rs 153 crore for the third quarter ending March 30. The company’s revenues came in at Rs 1,049 crore. Commenting on the results, the management said, the total outstanding hedges, which stand at USD 1.3 billion, would affect the results for next six quarters.
Also Read: HCL Tech Q3 net profit at Rs 153 cr
Commenting on the results, post declaration, Vineet Nayar, CEO of HCL Tech said, the total outstanding hedges, which stand at USD 1.3 billion, would affect results for the next six quarters. The company’s current hedged position stands at USD 1.3 billion versus USD 2 billion in June 2008.
HCL Tech’s realisations dipped 3.3%, of which 1.7% was due to forex fluctuations. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) margins improved to 19.7% on a year-on-year basis and 18.9% on QoQ basis. Speaking to CNBC-TV18, Nayar said, the Axon acquisition boosted both revenue and EBITDA margins.
The management further added that the company had won large deals worth USD 1.5 billion in the last nine months.
The HCL Tech management who spoke to CNBC-TV18 include Chairman and Chief Strategy Officer Shiv Nadar, CEO Vineet Nayar, Exec VP, Finance Anil Chanana and Corporate VP and Head-Enterprise Application Services Ram Krishna.
Read full interview on next page…Tags: HCL Technologies, net profit, third quarter, revenues, Axon, EBITDA, EAS, BPO, EBIT, TCV, order book, SAP, Price Waterhouse
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