HCL Technologies Q1 net profit dips 2.7% to Rs 1,823 cr

October 19, 2015 09:45

India's fourth-largest software services provider HCL Technologies today reported 2.7 per cent drop in consolidated net profit at Rs 1,823 crore for the first quarter ended September 30, 2015.

The company had posted a net profit of Rs 1,873 crore in the year-ago period, it said in a BSE filing.

HCL had already warned of a "tepid" September quarter on account of adverse currency impact and a client-specific issue.

Without the adjustment, the reported quarter's revenues stood at Rs 1,726 crore.

Consolidated revenues grew 15.6 per cent to Rs 10,097 crore (ex-adjustment) in July-September of this fiscal as against Rs 8,735 crore in the same quarter of the previous fiscal.

The firm follows July-June as the fiscal year. In dollar terms, net profit declined 9.3 per cent to USD 278.5 million (ex-adjustment) in the period under review as against USD 307.2 million in the year-ago period.

Revenues rose 7.7 per cent to USD 1.54 billion during the review period, from USD 1.43 billion in the corresponding quarter last fiscal.

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