HCL Tech Q2 Profit Jumps 16.7%; C. Vijaykumar Promoted To Top Post

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HCL Technologies Ltd, India’s fourth largest information technology (IT) firm, on Friday reported that its net profit rose 16.7% year-on-year to Rs2,014 crore in the September quarter, fuelled by strong growth in its  infrastructure services business and improved margins.

The firm also announced the elevation of its chief operating officer, C. Vijayakumar, to the top position in the company and the acquisition of a US firm.

“Growth should have been better and since their growth is mostly infrastructure-led, it worries me,” said Sanchit Vir Gogia, chief analyst and chief executive at Greyhound Research.

“He (Vijayakumar) is a good hand. HCL is going through a change and the way deals are being constructed, with a greater digital element, you need a fresh pair of hands,” said Gogia.

Source: Mint

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