HCL Tech Profit Up 3.6% In Q3

HCL Technologies has reported a consolidated net profit of 1,683 crore during the third quarter ended March 31, up 3.6 per cent against 1,624 crore in the corresponding period last year. Led by geographical growth in both Europe and the US, and vertical growth such as in financial, public services, and retail and consumer packaged goods, the company’s revenue also grew year-on-year.

All in all, the results are a mixed bag, said Sanchit Vir Gogia, Chief Analyst and CEO at Greyhound Research, said. “While on the positive side, the overt reliance on infrastructure management services is slowly expected to reduce over time, and increasing exposure to Europe is a worry since the geo remains volatile. This has been a tough quarter for nearly everyone in the industry,” he said.

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