HCL Technologies June Quarter Profit Rises 14.8% To Rs2,047 Crore

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HCL Technologies Ltd, the country’s fourth largest IT firm, saw its June quarter consolidated net profit rise by 14.8% to Rs.2,047 crore on account of broad-based growth across service offerings, and it expects 12-14% revenue growth in the ongoing fiscal.

Sanchit Vir Gogia, Chief Analyst and CEO at Greyhound Research, said HCL Tech “stands out” on two accounts: “One, the company is using the new-age approach of coopetition (cooperation with competition) and has formed ties with the likes of other IT services company such as CSC and IBM. Interestingly, the CSC-HCL duo has set up CelentriFinTech, a joint venture focused exclusively on banking customers. Two, the company is investing in digital transformation speciality areas like Internet of Things and has partnered with IBM to set up an incubation centre in Noida. What is commendable is that they have taken digital transformation beyond the concept stage, integrating the digital transformation offerings as part of its traditional deals.”

Source: Live Mint

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