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HCL Tech Q1 net income up 164%

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CIOL Bureau
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NEW DELHI: Indian software services firm HCL Technologies announced a 164 per

cent rise in net income for the first quarter of 2000-01 (July-June) on Friday,

beating analysts' expectations.

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Net income rose to Rs 96 crore for the quarter ended September 30 from Rs 36

crore in the year-ago period, while net revenues rose to Rs 314 crore from Rs

193 crore.

Analysts had expected the firm, which specializes in information technology

solutions and product engineering, to post a net profit growth of 125-133 per

cent, boosted by a low base in the year-ago period and improved margins.

Last week, frontline software firms Infosys Technologies and Satyam Computer

Services Ltd. reported net profit growth of 122 per cent and 107 per cent

respectively for the first half ended September 30, 2000.

HCL Technologies shares ended Friday at Rs 1,010.85 at the Bombay exchange,

down Rs 2.05 from its previous close.

(C) Reuters Limited 2000.

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