<p><br />India's fourth largest software services exporter HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.<br /><br /></p>.<p>The city-based firm, which follows July-June fiscal year, had posted a net profit of Rs 944 crore in the year-ago period, it said in a BSE filing.<br /><br />Consolidated revenues grew by 30.4 per cent at Rs 8,184 crore in the October-December quarter of this fiscal against Rs 6,278 crore in the same quarter of the previous fiscal.In the July-September quarter, the firm had reported a net profit of Rs 1,416 crore and revenues of Rs 7,961 crore.<br /><br />Commenting on the performance, HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said: "As a company HCL has always differentiated itself on two key pillars – corporate excellence and governance, and trust through transparency and flexibility. Our sustained efforts in these areas continue to be recognised."<br /><br />In dollar terms, for the first time the software services exporter crossed the USD 5 billion in revenues for the calendar year (CY) 2013.<br /><br />Net profits rose by 39.1 per cent to USD 242 million in the second quarter of the current fiscal against USD 174 million in the year-ago period.<br /><br />Revenues rose by 14.5 per cent to USD 1.32 billion during the review period from USD 1.15 billion in the corresponding quarter of the last fiscal.<br /><br />In the July-September quarter, HCL Technologies reported a net profit of USD226 million and revenues of USD 1.27 billion.<br /><br />"HCL continues its profitable growth trajectory with yet another stellar quarter of 4 per cent QoQ revenues growth and 39.1% YoY net income growth," HCL Technologies President & CEO Anant Gupta said.<br /><br />The company also crossed many milestones during the quarter, with its CY 2013 revenues crossing the USD 5 billion landmark. Besides, Infrastructure services, Europe geography and Manufacturing vertical each crossed USD 1.5 billion in revenues, he added.<br /><br />For the year ended December 31, 2013, HCL Technologies had cash and cash equivalents of USD 135.1 million compared to USD 96.8 million at the end of September 30, 2013.<br /><br />"The asset light model reflected by our fixed asset turnover at 10x of revenues, and efficient working capital management, continued to keep the return on equity at a historic high of 35 per cent and operating cash flows in excess of 100 per cent of net income," HCL Technologies CFO Anil Chanana said.<br /><br />HCL Technologies added 6 clients during the October-December quarter, taking the total clients to 844. Total headcount of the company stood at 88,332 for the period, with gross additions at 7,593 and net at 1,136.<br /><br />Shares of the company was trading at Rs 1350.10 apiece, up 1.10 per cent from its previous close on BSE. </p>
<p><br />India's fourth largest software services exporter HCL Technologies today reported a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore for the second quarter ended December 31, 2013, on the back of growth in manufacturing and infrastructure services.<br /><br /></p>.<p>The city-based firm, which follows July-June fiscal year, had posted a net profit of Rs 944 crore in the year-ago period, it said in a BSE filing.<br /><br />Consolidated revenues grew by 30.4 per cent at Rs 8,184 crore in the October-December quarter of this fiscal against Rs 6,278 crore in the same quarter of the previous fiscal.In the July-September quarter, the firm had reported a net profit of Rs 1,416 crore and revenues of Rs 7,961 crore.<br /><br />Commenting on the performance, HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said: "As a company HCL has always differentiated itself on two key pillars – corporate excellence and governance, and trust through transparency and flexibility. Our sustained efforts in these areas continue to be recognised."<br /><br />In dollar terms, for the first time the software services exporter crossed the USD 5 billion in revenues for the calendar year (CY) 2013.<br /><br />Net profits rose by 39.1 per cent to USD 242 million in the second quarter of the current fiscal against USD 174 million in the year-ago period.<br /><br />Revenues rose by 14.5 per cent to USD 1.32 billion during the review period from USD 1.15 billion in the corresponding quarter of the last fiscal.<br /><br />In the July-September quarter, HCL Technologies reported a net profit of USD226 million and revenues of USD 1.27 billion.<br /><br />"HCL continues its profitable growth trajectory with yet another stellar quarter of 4 per cent QoQ revenues growth and 39.1% YoY net income growth," HCL Technologies President & CEO Anant Gupta said.<br /><br />The company also crossed many milestones during the quarter, with its CY 2013 revenues crossing the USD 5 billion landmark. Besides, Infrastructure services, Europe geography and Manufacturing vertical each crossed USD 1.5 billion in revenues, he added.<br /><br />For the year ended December 31, 2013, HCL Technologies had cash and cash equivalents of USD 135.1 million compared to USD 96.8 million at the end of September 30, 2013.<br /><br />"The asset light model reflected by our fixed asset turnover at 10x of revenues, and efficient working capital management, continued to keep the return on equity at a historic high of 35 per cent and operating cash flows in excess of 100 per cent of net income," HCL Technologies CFO Anil Chanana said.<br /><br />HCL Technologies added 6 clients during the October-December quarter, taking the total clients to 844. Total headcount of the company stood at 88,332 for the period, with gross additions at 7,593 and net at 1,136.<br /><br />Shares of the company was trading at Rs 1350.10 apiece, up 1.10 per cent from its previous close on BSE. </p>