Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
Latest News

HCL Tech reports Q3 net increase of 14.4% to Rs 1,926 crore

HCL Technologies has agreed to acquire a 100% stake in the German automotive engineering services provider ASAP Group for Rs 2,300 crore.

HCL Technologies has reported a 14.4 percent rise in the net profit at Rs 1,926 crore for the quarter ended March.

HCL Technologies has said in a statement that during the corresponding quarter of last fiscal, the firm had posted a net profit of Rs 1,683 crore.

The company follow the July-June fiscal.

Company’s revenue for the reported quarter increased 15.4 percent at Rs 10,698 crore from Rs 9,267 crore in the same period a year ago.

The company’s net profit in dollar terms grew 5.5 percent to $285.1 million whereas revenue rose 6.5 percent to $1.58 billion in the third quarter of 2015-16 from the year ago period.

Anant Gupta, HCL technologies President and CEO has said that “Our investments in BEYONDigital, IoT WoRKS and Next Gen ITO helped us close FY16 year with a robust growth of 11.6 per cent LTM YoY in constant currency. This nine-month financial year, we signed 25 transformation deals with more than $4 billion of TCV.”

Read EquityPandit’s Technical Analysis on Nifty IT

Get Daily Prediction & Stocks Tips On Your Mobile