3:42 am - Tuesday December 19, 2017

HCL Technologies’ Q1 profit rises 64 percent, tops estimate

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HCL Technologies hits record high; time to exit?
HCL Technologies hits record high; time to exit?

Bangalore – HCL Technologies , India`s No. 4 IT services exporter, beat market expectations with a 64 percent rise in September quarter profit, joining larger Indian rivals in signalling accelerated spending by clients.

Consolidated net profit for the three months ended September 30 rose to 14.16 billion rupees from 8.64 billion rupees in the same period a year earlier, HCL Technologies said on Thursday.

HCL`s customers include Nokia Oyj , Xerox Corp and AstraZeneca PLC . HCL Technologies follows a July-June fiscal year.

Tata Consultancy Services , the No. 1 Indian IT services provider, on Tuesday beat profit expectations for the September quarter and said it may increase hiring.

On Friday, No. 2 player Infosys increased the lower end its revenue forecast for the year ending in March and said clients were accelerating spending.

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