India’s fourth largest IT firm HCL technologies posted its 16.7 per cent jump in net profit at Rs 2,014 crore for the quarter- ended September, 2016.
HCL technologies also announced that it has elevated Chief Operating Officer C Vijayakumar as the new CEO of the company. C Vijayakumar takes over from Anant Gupta, who has decided to leave the company to launch a new technology investment firm.
India’s fourth largest IT firm saw its revenues were increase 14 per cent at Rs 11,519 crore against Rs 10,097 crore in the quarter-ago period. While the company net profit stood at Rs 1,726 crore in previous year.
The company also maintained its revenue growth guidance for 2016-17 at 12-14 per cent on constant currency basis. New CEO of HCL tech, C Vijayakumar said that, ““I do agree that some of the traditional discretionary spends are a little bit soft, but they are being more than offset by disruptive discretionary spends. So, we remain very positive about our growth.”
Fourth largest IT firm HCL technologies observed broad-based growth across verticals driven by public services at 25 per cent, retail and CPG at 21.6 per cent, life sciences and healthcare at 15.9 per cent, telecommunications, media, publishing and entertainment at 14.9 per cent, manufacturing at 7.1 per cent and financial services at 5.3 per cent.
In geographical terms, America and Europe also grew 14.9 per cent and 8.2 per cent, respectively. HCL technology has announced a dividend of Rs 6 per share. During the quarter, HCL Technologies added 9,083 people taking the total headcount to 1,09,795 as on 30th September, 2016.
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