Advertisment

HCL Tech Q1 net up 22.2 %

author-image
CIOL Bureau
Updated On
New Update

NEW DELHI: HCL Technologies Ltd, India's fifth largest exporter of software services, has announced that its quarterly profit rose 22.2 percent as the fast growing industry experienced a pick-up in outsourcing business.

Advertisment

New Delhi-based HCL Technologies, whose clients include Internet gear maker Cisco Systems, reported a first quarter net profit of 896 million rupees compared with 733.4 million in the year-ago period.

The results came after larger rivals such as Infosys Technologies Ltd and Satyam Computer Services Ltd raised full-year profit forecasts following a surge in demand for cheaper software services.

At their Thursday's close, shares of HCL Technologies were up 33 percent since end June, matching a similar rise on Bombay's infotech index.

Reuters

tech-news