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HCL Technologies, India's fourth-largest software services exporter, reported a 28% rise in quarterly net profit, beating expectations, after customers boosted orders to cut operational costs amid the global economic uncertainty.
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The market‘s reaction to HCL Tech numbers appears to be one of relief after sector bellwether Infosys Technologies‘ disappointed with its earnings guidance last week.
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HCL Technologies, one of the largest software services providers in India, is likely to report a profit after tax of Rs 555 crore in third quarter of FY12, degrowth of 3.1% as compared to Rs 573 crore in the previous quarter.
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Harit Shah, senior research analyst at Nirmal Bang Institutional Equities, tells CNBC-TV18 that Rs 165-166 is a more reasonable EPS target for Infosys in FY13
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Prabhudas Lilladher has come out with its earnings estimates on IT sector for March quarter FY12. The research firm remains neutral in the near term, but optimistic about the back-ended growth and expects the guidance and outlook to be soft.
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Motilal Oswal has come out with its earnings estimates on technology for March FY12. The research firm expects muted growth as sluggish decision cycles compound seasonality.
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Infosys will kick-off IT sector earnings this week. There has been a lot of uncertainty and speculation over the actual business environment for outsourcing companies, as Cognizant Technologies gave a weak guidance, even as Accenture reported strong order bookings.
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Angel Broking has come out with its results estimates on Information Technology sector for March FY12.
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Emkay Global Financial Services has come out with its March quarterly earning estimates for IT sector.
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Hemang Jani of Sharekhan spoke to CNBC-TV18 about his expectations of the earnings season and L&T results today. Check out his comments.
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HCL Tech has registered Q3 EBIT growth at 42% year-on-year led by the slew of deals that the company managed to garner in Q2.
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In an interview to CNBC-TV18, Bhusan said, "In dollar terms, we are expecting 2.7% quarter on quarter growth with a margin expansion of around 210 bps. On the bottomline we are expecting 17% quarter on quarter growth in rupee terms."
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HCL Technologies is expected to report a profit after tax of Rs 523 crore in the second quarter of FY12, a growth of 5.3% as compared to Rs 496.7 crore in previous quarter.
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Mid-tier software services exporter HCL Technologies will report third quarter earnings on Tuesday, apart from its larger rival Tata Consultancy Services. The results will be keenly eyed amid the Euro zone crisis and global economic uncertainty.
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In an interview to CNBC-TV18, Kawaljeet Saluja, associate director and head of research at Kotak Institutional Equities, speaks about his expectation from Infosys and gives his outlook going forward.
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Motilal Oswal has come with its December quarterly earning estimates for Information Technology sector.
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Tech bellwether Infosys will kickstart earnings of software services providers next week and its going to be a tight rope walk between a depreciating rupee and tough business environment in US and Europe.
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Angel Broking has come with its quarterly earning estimates for software sector.
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In an exclusive interview to CNBC-TV18, the management of the company says that they are satisfied with the volume growth rate and deal announcements this quarter, but hat they see soft growth from Japan and India.
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HCL Tech has reported a fall of 2.5% QoQ in consolidated net profit of Rs 497 crore for the quarter ended September 2011. The company had reported a net profit of Rs 510 crore in the previous quarter.
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After its announcement of below expectation results for the second quarter on Monday, Tata Consultancy Services shares crashed over 7% on Tuesday. However, Sandip Agarwal, IT analyst at Antique Stock Broking says the TCS results have 'nothing negative'.
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HCL Tech July-Sept net up 50 pct, shares fall
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HCL Technologies July-Sept net at 3.98 bln rupees
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Aniruddha Mehta, research analyst, IIFL India Pvt Client expects TCS’ Q2 margins to expand by 60 bps. Rupee depreciation will have a positive impact on their margins but the IT giant is expected to report foreign exchange loss of Rs 175 crore.
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After Infosys cheered the market on Wednesday, all eyes will now be on Tata Consultancy Services, which reports its second quarter earnings on Monday.
