HCL Tech net up 3.5%

Growth in engineering, enterprise applications and emerging verticals like healthcare and retail helped HCL Technologies post a 3.5 per cent rise in fourth-quarter net income.

The Delhi-based information technology (IT) company posted net income of Rs 341.8 crore for the June quarter, compared to Rs 330.1 crore in the year-ago period. It follows July-June as a financial year.

Revenue rose 17.8 per cent to Rs 3,425 crore from Rs 2,908 crore in the previous corresponding quarter. The company posted a foreign exchange loss of Rs 137 crore during the said quarter.

Sequentially, net income dipped 0.6 per cent from Rs 344 crore, while revenue rose 11.4 per cent from Rs 3,075 crore. The headcount addition at 6,428 was the highest in any quarter in the company’s history and the attrition rate stood at 15.3 per cent.

“In the last two eventful years, the top Indian IT Companies added $2.9 billion (Rs 12,630 crore) of incremental revenues. HCL contributed $844 million (Rs 3,966.8 crore) translating to 30 per cent share of the incremental revenues,” said Vineet Nayar, chief executive officer of HCL Technologies.