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Business EconomyPosted at: Oct 21 2016 5:05PM


HCL soars 16.7 pc YoY growth in Q2 net, inks deal to buy Butler Aerospace

New Delhi, Oct 21 (UNI) With the firm announcing appointment of C Vijaya Kumar as chief executive officer, India’s fourth largest IT company, HCL Technolgies, today unveiled its second quarter in the capital region, reporting 16.7 percent year on year (YoY) growth in net profit for Rs 2,014-crore till September 30 this financial year.
The IT firm has also inked deal to buy Butler America Aerospace for 85 million dollars (Rs 568-crore).
Maintaining its annual forecast of 12-14 percent revenue growth in constant currency terms, HCLs quarter revenue soared 1.6 percent at Rs 11,519-crore quarter on quarter (QoQ). The company eyes 13 percent growth as against 13.2 percent guided at the end of first quarter.
While talking to UNI on company’s growth strategy, President and CEO, HCL Tech, C Vijaya Kumar said, “we are striving to strengthen our 1-2-3 growth strategy which encompasses core services of applications, infrastructure and leveraging dry ice. Autonomics to make the environment lean and agile. Secondly, experience-centric and outcome oriented offerings and thirdly targeting specific next generation opportunities in the market.”
Catalysts highlighting revenue growth driver in constant currency since Last Twelve Months(LTM) year on year showed 10 percent increase with Americas and Europe resulting 14.9 and 8.2 percent(s) growth respectively. In addition to that, revenue in Infrastructure management services rose 4.4 percent and a 2.3 percent increase in engineering and research as well as in development sector sequentially.
UNI SDR JW SNU 1705
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Tags: #HCL soars 16.7 pc YoY growth in Q2 net# inks deal to buy Butler Aerospace
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