HCL net down 6.6 pc in first quarter

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SME Times News Bureau | 27 Jul, 2017
Global software major HCL Technologies on Thursday reported a Rs 2,171 crore consolidated net profit for the first quarter (Q1) of fiscal 2017-18, registering 6.1 per cent annual growth from Rs 2,047 crore in the like period year ago but 6.6 per cent lower sequentially from Rs 2,326 crore a quarter ago.

In a regulatory filing on the BSE, the IT major said consolidated revenue from operations was 7.2 per cent up annually to Rs 12,149 crore for the quarter under review (Q1) from Rs 11,337 crore in the same period year ago but flat (0.8 per cent) sequentially from Rs 12,053 crore quarter ago.

Under the International Financial Reporting Standard (IFRS), net income grew 10.3 per cent annually to $337 million in Q1 from $305 million in the same period year ago but 3.8 per cent lower sequentially from $350 million quarter ago.

Gross revenue, however, grew 11.4 per cent annually to $1,884 million in Q1 from $1,691 million and 3.7 per cent up sequentially from $1,817 million quarter ago.