HCL Tech has posted better-than-expected July-September results. Its Q2 consolidated net profit was at Rs 2015 crore while dollar revenue was at USD 1722 million.
HCL Tech 's net profit has beaten estimates, at Rs 2015 crore in July-September quarter down 1.9 percent from Rs 2055 crore in last quarter. Its Q2 dollar revenue growth is in-line, rising 1.8 percent at USD 1722 million against USD 1691 million in quarter-ago period. In rupee terms, its revenue grew 1.6 percent at Rs 11519 crore compared to Rs 11336 crore quarter-on-quarter.
The company has reiterated its FY17 constant currency guidance at 12-14 percent and EBIT guidance to 19.5-20.5 percent. Its revenue in constant currency in Q2 was up 2.8 percent on sequential basis.
During the period, its EBIT fell 0.7 percent at Rs 2318 crore against Rs 2333 crore and margins were at 20.1 percent versus 20.6 percent (QoQ).
HCL Tech's net profit was seen slipping 3.5 percent to Rs 1975 crore in July-September and dollar revenue growth was seen at 2 percent USD 1725 million.
A company press statement said that HCL Tech has seen broad based growth across verticals driven by public services at 25 percent, retial and CPG at 21.6 percent, lifesciences and healthcare at 15.9 percent, telecommunications, media, publishing and entertainment at 14.9 percent, manufacturing at 7.1 percent and financial services at 5.3 percent.
