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HCL Tech Q2 net profit up 58.4%

New Delhi: India's fourth largest software services exporter HCL Technologies reported a 58.4% rise in consolidated net profit at Rs 1,496 crore for the second quarter ended December 31, 2013, on the back of growth
PTI January 16, 2014 15:54 IST
PTI
New Delhi: India's fourth largest software services exporter HCL Technologies reported a 58.4% 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.

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.

Consolidated revenues grew by 30.4% 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.

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."

In dollar terms, for the first time the software services exporter crossed the $5 billion in revenues for the calendar year (CY) 2013.

Net profits rose by 39.1% to $242 million in the second quarter of the current fiscal against $174 million in the year-ago period.

Revenues rose by 14.5% to $1.32 billion during the review period from $1.15 billion in the corresponding quarter of the last fiscal.