HCL Technologies reported a 9.8 per cent dip in consolidated net profit for the fourth quarter ended March 2018 at ₹2,230 crore against ₹2,474 crore for the same quarter in 2017.

The company’s revenue grew 2.2 per cent for the period at ₹13,480 crore as opposed to ₹13,183 crore for the same quarter in the previous fiscal.

Talking to media persons after the board meeting, C Vijayakumar, Chief Executive Officer, said that this revenue increase was backed by the strong broad-based growth across verticals, robust client additions, and accelerated revenues from Mode 2 and Mode 3 services.

“We remain confident about the new fiscal in the light of increasing relevance of our business offering coupled with strategic investments in technology in future,” he added. For the year ended March 2018, the company registered a net profit of ₹8,722 crore, was up 1.3 per cent from ₹8,606 for the fiscal year 2017. Revenues grew 6.4 per cent from ₹48, 641 crore to ₹51,786 crore.

Revenues from Mode 2 and Mode 3, which focus on emerging technologies and IP creation, together grew 41.5 per cent for the fiscal 2018.

Revenues from the two segments account for 23.4 per cent against 18.6 per cent for fiscal 2017.

Growth across verticals is driven by manufacturing at 18.3 per cent, financial services at 13.3 per cent, lifesciences and healthcare at 8.1 per cent, retail and CPG at 7.5 per cent and public services at 2.6 per cent on constant currency basis.

For financial year 2019 revenues are expected to grow 9.5-11.5 per cent in constant currency.

Total employee count stood at 1.2 lakh with gross addition of 8,476 people. Attrition rate for IT services was 15.5 per cent.

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