HCL Technologies - Topped Q1 IT Company

[VelMurugan]

HCL Technologies

Reeling under foreign exchange losses, Noida-based HCL Technologies' consolidated net profit for the quarter (quarter two for HCL Tech which follows calendar year) fell 71 per cent.

The company's net income (before foreign exchange losses) stood at Rs 440.9 crore during the quarter, 87 per cent higher than the corresponding period of the previous year. Its revenue rose 34.5 per cent year-on-year to Rs 2168.8 crore for the quarter ended June 2008.

On a standalone basis, the company posted a net loss of Rs 135.4 million. The firm got fresh orders worth $310 million in the quarter. Among the verticals, financial sector and manufacturing crossed $0.5 billion mark. The revenue growth was spread across verticals like life sciences, manufacturing, media and publishing and entertainment.

Source : IndiaTimes