HCL Q1 net profit rises 7% YoY on back of new order wins

New Delhi, IT services firm HCL Technologies on Wednesday reported a 7 per cent rise in its June quarter net profit on the back of new order wins. Its consolidated net profit of Rs 3,534 crore in April-June, or Rs 13.05 a share, was up from Rs 3,324 crore, or Rs 122.13 per share, in the same period a year back, according to a company's stock exchange filing.

On a quarter-on-quarter basis, the net profit fell 11 per cent, when compared to Rs 3,983 crore earnings in January-March.

The company's revenue at Rs 26,296 crore was down 1.2 per cent quarter-on-quarter but up 12.1 per cent year-on-year.

On a constant currency, revenue was down 1.3 per cent quarter-on-quarter but up 6.3 per cent year-on-year.

HCL said it won 18 large deals, 7 in services and 11 in software, during the quarter.

The firm projected a revenue growth of 6-8 per cent in constant currency terms and an EBIT (earnings before interest and taxes) margin of 18-19 per cent.