Business Standard

HCL Tech fourth-quarter profit falls nearly 10 percent, misses estimates

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Reuters

(Reuters) - Indian software services exporter HCL Technologies Ltd posted a 9.9 percent fall in its fourth-quarter net profit on Wednesday, hurt by higher expenses.

Net profit fell to 22.28 billion rupees ($333.58 million) in the three months ended March 31, from 24.73 billion rupees in the same period a year earlier, HCL said. http://bit.ly/2FzaCi4

Analysts on average had expected the company to post a net profit of 22.60 billion rupees, according to Thomson Reuters data.

Revenue from operations rose 2.2 percent to 131.78 billion rupees.

The company said it expected revenue in the current year to rise 9.5 percent-11.5 percent in constant currency terms.

 

($1 = 66.7900 Indian rupees)

(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 02 2018 | 8:39 AM IST

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