CHENNAI: IT services firm HCL Technologies on Friday announced a 16.7 per cent increase in second quarter net profit, posting Rs 2,014 crore against Rs 1,726 crore in the corresponding quarter of the last fiscal. Its revenues for the reported quarter increased by 14.1 per cent to Rs 11,519 crore, from Rs 10,097 crore last year, as per US GAAP accounting norms. However, on a sequential basis, net profit was lower by 1.6 per cent, coming down from Rs 2,047 crore in in the previous quarter, while revenue grew 1.6 per cent from Rs 11,336 crore.
The company maintained its revenue growth guidance for 2016-17 at 12-14 per cent on constant currency basis. In constant currency terms, HCL Tech’s revenues were up 12.8 per cent year-on-year. “HCL continues to be the partner of choice for the 21 Century Enterprise through our differentiated strategy encompassing core services, integrated next–generation offerings and platforms, in line with our Mode 1-2-3 growth strategy,” HCL Technologies President and CEO C Vijayakumar said.
