HCL Technologies' first quarter (April-June) beat analysts' expectations on all parameters by reporting 6 percent growth each in profit at Rs 2,055.2 crore and revenue at Rs 11,336 crore on sequential basis.
HCL Tech has recorded broad-based growth, is the word coming in from Anant Gupta, CEO of HCL Technologies; while Anil Chanana, the CFO says he continues to maintain EBIT margin band of 21-22 percent
Anil Chanana, chief financial officer of HCL Tech says the industry continues to see good growth. He expects margins to be at 21-22 percent considering the company has stepped up investments in the last few months.
HCL Technologies, the fourth largest software services exporter in India, surpassed street expectations on every parameter on Friday by reporting 2.3 percent sequential growth in profit after tax at Rs 1,915 crore.
Software services exporter reported revenue at Rs 8,735 crore during the quarter, increased by 3.7 percent quarter-on-quarter (up 10 percent year-on-year) and dollar revenue rose by 1.85 percent (up 13 percent on yearly basis) to USD 1,433 million.
HCL has signed 15 transformational engagements with more than USD 1 billion of total contract value in this quarter.
The country's fourth largest IT firm ended September quarter with revenues that grew at a slower pace than that of its rivals, though profit beat market expectations by rising 64 percent.
Anil Chanana, CFO, HCL Technologies says the firm will be focused on a delivering profitable growth to the markets.
HCL Technologies' margins in the medium-term will be in the 18-19 percent range, CFO Anil Chanana said on Wednesday.
Anil Chanana of HCL Technologies said they have not seen any pricing pressure and their realisations continue to be the same.
HCL Technologies' consolidated net profit rose 78 percent, year-on-year, to Rs 885 crore in July-September quarter. In an interview to CNBC-TV18, the company‘s management — vice chairman and chief executive officer Vineet Nayar and chief financial officer Anil Chanana—speak about the results.
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.
HCL Technologies reported better-than-expected profit growth for the second quarter, showing no signs of any impact from the global economic downturn. The software services provider's net profit for the Oct-Dec quarter jumped 43.3% from a year ago to Rs 572.7 crore.
Chief Financial Officer of HCL Technologies, Anil Chanana told reporters that the company has a capex plan of USD 230 million for its current fiscal year ending June.
HCL, which counts Microsoft, IBM, HP and Oracle as partners, said it was seeing a significant churn among vendors. "The deals in pipeline are bigger than ever before with October-December being the biggest quarter in terms of booking orders. With this our working capital cycle too is seen declining consistently," the management pointed out.
Software services firm HCL Technologies' third quarter (January-March) numbers beat analysts estimates by a comfortable margin. In an interview with CNBC-TV18’s Udayan Mukherjee, Vineet Nayar, VC and CEO, HCL Tech and Anil Chanana, CFO, HCL Tech, speak about the results and give their outlook going forward.