#GreyhoundInMedia: HCL Tech April-June net up 13% on quarter at Rs 1,834 cr, margins surprise #Press #Media #FirstBiz

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HCL Technologies posted a better-than-expected 13 percent increase in net profit during April-June on robust growth in operating margins. The company’s net profit stood at Rs 1,834 crore, compared with a CNBC TV18 poll estimate of Rs 1,611.4 crore.

Sanchit Gogia, Chief Analyst and CEO, Greyhound Research—an independent IT and Telecom Research and Advisory firm, believes the last quarter has been lukewarm for the industry at large but HCL Tech has done well in Europe and other key verticals like Public Services and Financial Services. More specifically, the company has seen growth for its infrastructure management services and has managed to add significant deal wins in the last quarter—earlier this year the company bagged a $500 milion contract from PepsiCo for infrastructure management services and a $400-million contract from DNB Bank, Norway, he added.

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