JOIN USHCL Technologies, the fourth largest IT firm in the country, started off its FY2017 journey with a stellar performance as its Q1 consolidated net profit rose by 14.8% to Rs 2,047 crore compared with Rs 1,783 crore in the same period in FY 2015.
HCL Technologies President and CEO Anant Gupta said the company’s stellar performance was on account of broad-based growth across service offerings. “We commence FY2017 on a positive note, continuing our robust financial performance, with a strong 6% growth. It is propelled by our robust 21 Century Enterprise strategy and robust business model,” Gupta.
The Noida-based firm’s revenues grew 15.9% to Rs 11,336 crore, from Rs 9,777 crore in the year-ago period, as per US GAAP accounting norms. On constant currency basis, HCL Tech’s revenues were up 11.2% year-on-year in the June 2016 quarter.
The company also expects that for FY2017 its topline will grow 12% to 14% without fluctuations in currencies, higher than Nasscom’s outlook of 10% to 12% rise in the IT industry’s export revenues. This quarter on wards the company moved to April-March cycle to explain its results as mandated by Companies Act.
Earlier, it had followed the July-June fiscal. HCL Tech has announced a dividend of Rs 6 per share.
Commenting on the results, HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said as changing global socio–economic landscape transforms the dynamics of the industry, enterprises are redesigning their strategies and business models.