HCL Technologies consolidated profits decline by 9.8%

HCL Technologies on Wednesday posted a 9.8% decline in consolidated net profit to ₹2,230 crore for the quarter ended March 2018 .

The software services firm had posted a net profit of ₹2,474 crore in the January-March 2017 quarter as per Indian Accounting Standards (Ind AS), HCL said in a BSE filing.

The company's total income was up 2.2% to ₹13,480 crore in the quarter from ₹13,183 crore in the same quarter last year.

For the full year 2017-18, net profit was up 1.3% to ₹ 8,722 crore, while total income grew by 6.4% to ₹ 51,786 crore year-on-year.

HCL Technologies in a statement said it expects its revenues to grow between 9.5-11.5 on constant currency basis in the fiscal 2018-19.

"We conclude the fourth quarter and the financial year 2018 with an industry-leading performance backed by broadbased growth across verticals, robust client additions and accelerated revenues from mode 2 and 3 services," HCL Technologies President and CEO C Vijayakumar said.

He added that the company remains confident of the new fiscal in light of the increasing relevance of the business offerings coupled with strategic investments in technologies of the future.

The board of directors has declared an interim dividend of ₹2 per equity share