Mumbai: HCL Technologies Ltd, India's fourth largest
software services exporter by revenue, reported a 8 per cent fall in
quarterly net profit on Monday, but met Street estimates as its core
manufacturing clients added more projects.
Revenue in dollar terms rose 8 per cent to $1.54 billion. In September, HCL Tech said its revenue in US dollars would have adverse impact of 80 bps on a sharp depreciation of multiple currencies against the dollar.
HCL is part of a $150-billion Indian outsourcing sector that generates the bigger part of its sales by providing services like IT network installation and development of software applications to Western clients.
Consolidated net income for HCL Technologies under US accounting standards rose to Rs 1,726 crore in the quarter ended September 30, down 8 per cent from a year earlier.
Analysts on average expected the company to report a net profit of Rs 1,723 crore, according to Thomson Reuters data.
Revenue in dollar terms rose 8 per cent to $1.54 billion. In September, HCL Tech said its revenue in US dollars would have adverse impact of 80 bps on a sharp depreciation of multiple currencies against the dollar.
HCL is part of a $150-billion Indian outsourcing sector that generates the bigger part of its sales by providing services like IT network installation and development of software applications to Western clients.
Consolidated net income for HCL Technologies under US accounting standards rose to Rs 1,726 crore in the quarter ended September 30, down 8 per cent from a year earlier.
Analysts on average expected the company to report a net profit of Rs 1,723 crore, according to Thomson Reuters data.
No comments:
Post a Comment