homeearnings NewsHCL Tech posts Q4 net profit at Rs 2,227 crore
earnings | May 2, 2018 8:30 AM IST

HCL Tech posts Q4 net profit at Rs 2,227 crore

IT firm HCL Tech on Wednesday reported a net profit of Rs 2,227 crore for the fourth quarter, missing expectations of Rs 2,245 crore.

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The company reported revenue of Rs 13,179 crore for the quarter ended March 31, missing expectations of Rs 13,205 crore.
The company's top line was boosted by broad-based growth across its verticals in the financial year 2017-2018.
The manufacturing arm grew by 18.3%, the financial services by 13.3%, among the other verticals, the HCL said in a press release.
The company also reported strong client addition from last year.
“We conclude the fourth quarter and the financial year 2018 with an industry-leading performance backed by broadbased
growth across verticals, robust client additions and accelerated revenues from Mode 2 and 3 Services," HCL CEO C. Vijayakumar said in a statement.Dollar revenue for the company rose to 2.5% as against the CNBC-TV18 poll of 2.8% growth.
In numbers, the dollar revenue slightly missed the estimate of $2,044 million as it currently stands at $2,038 million.
HCL said it expected revenue for this financial year to grow between 9.5% and 11.5% at constant currency.
The EBIT margin stands at 19.6%, same as the last quarter, missing the expectation of  19.8%.
The EBIT stands at Rs 2,582.7 crore,  lower than the Rs 2,617 crore expectation but slightly above the Q3 numbers which stood at Rs 2,510 crore.
The firm posted the EBIT margin guidance expectation for the current financial year at the range of 19.5%-20.5%.
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