HCL technologies registers 12.3% profit rise in Q4

One of the major Indian IT companies, HCL technologies on Thursday announced the data of Q4 of FY 2016-17. The IT major has registered a growth of 12.3% in net profit. The net profit for the quarter ended in March stood at ₹2,325 crores.

In the statement, HCL mentioned that its revenue for the same quarter grew 2 percent to ₹12,053 crores, compared to Q3 of the same financial year. In the march quarter, the net income grew by 14.3 percent. Year-on-Year basis, net income saw an increase of 22.7 percent.

HCL expects their revenue in FY18 to grow at over 10.5 percent.

Speaking on the data, Anil Chanana, CFO – HCL Technologies said that their focus is on rewarding the shareholders and HCL has already announced a program to buyback shares worth ₹3,500 crores.