HCL Tech Q2 net profit rises 9.1 per cent, beats estimates

India's fourth-largest software services exporter HCL Technologies Ltd reported a 9.5 per cent rise in second-quarter net profit on account of higher revenue from its software services sector.

HCL Technologies in a statement said that the net profit attributable to shareholders rose to Rs 22.07 billion in the three months ended September 30, from Rs 20.15 billion in the same period a year earlier. Revenue from operations rose 8 percent to 124.33 billion rupees.

The software firm maintained its full-year revenue guidance for a growth between 10.5 per cent and 12.5 per cent in constant currency terms.

In its first quarter, HCL Technologies had posted a 6.1 per cent increase in consolidated net profit at Rs 2,171 crore. Consolidated revenues grew 7.2 per cent to Rs 12,149 crore in April-June 2017 as against Rs 11,336 crore in the same quarter of 2016-17.

Shares of the company rose by over 3 per cent to Rs 918.90 in early trade on BSE after the results. In dollar terms, the company's net profit increased 10.3 per cent to USD 336.7 million in the reported quarter, while revenues grew 11.4 per cent to USD 1.88 billion.

HCL Technologies maintained its revenue growth guidance of between 10.5-12.5 per cent in constant currency terms.