HCL Tech Q2 net up 15 p.c at Rs 573 crore

MUMBAI, INDIA: Software services provider HCL Technologies today reported a consolidated profit of Rs 573 crore in the second quarter of FY12, a massive and better than expected growth of 15.4 per cent as compared to Rs 496.7 crore in the previous quarter

The IT major's revenues was up by 12 per cent at Rs 5,425 crore for the quarter that ended December 31 2011, from Rs 4,651 crore in the year ago period, said a press release.

The firm's EBITDA margin has improved to 18.5 per cent vs 17.1 per cent q-o-q. The EBITDA figure stands at Rs 972 crore compared to Rs Rs 795 crore in the last quarter.

The company has attributed its better-than-expected performance to two $100 million plus deals in the quarter under review, quoting its volume growth at 4.9 per cent in the said period, the release added.