HCL Tech Q3 net rises 15.7% to Rs 331.8cr

HCL Technologies has announced its third quarter results. The company reported net profit of Rs 331.8 crore (Rs 3.31 billion) in the third quarter versus Rs 286 crore (Rs 2.86 billion) in the previous quarter, a growth of 15.7%.(Consolidated, US GAAP)

Its revenue was up 7.6% at Rs 1,577 crore (Rs 15.77 billion) from Rs 1,465 crore (Rs 14.65 billion). (Cons, QoQ, US GAAP).Net profit margin increased to 21.04% from 19.5% in the second quarter.

HCL Technologies has added 1,832 employees versus 1865 employees in second quarter and 26 new clients in third quarter.

Company's IT services revenue stood at USD 312.7 million. Among IT services, core software revenue increased by 8% to USD 262.4 million and infrastructure services revenue up by 8.2% at USD 50.2 million, quarter-on-quarter.Its BPO services revenue was at USD 49.7 million (QoQ).HCL Tech's Q3 EBITDA was at Rs 366.7 crore (Rs 3.66 billion). EBITDA margin improved to 23.25% versus 22.11% (QoQ).

According to Reapreturns estimates its Q3FY07 net profit was expected to be at Rs 290.32 crore versus Rs 286 crore QoQ.During the same quarters, the company was anticipated to post a net revenue of Rs 1596.95 crore versus Rs 1465 crore QoQ.