HCL Technologies' First-Quarter Net Profit Rose 7.6% on Year
By Kosaku Narioka
HCL Technologies' first-quarter net profit rose 7.6% from a year earlier thanks to greater revenue.
The Indian information-technology-services provider said Wednesday that net profit for the quarter ended June 30 rose to 35.34 billion Indian rupees ($431.0 million) from INR32.83 billion a year earlier, missing the estimate of INR38.32 billion in a poll of analysts by FactSet.
Revenue increased 12% from a year earlier to INR262.96 billion.
HCL also said Wednesday it would acquire German automotive engineering services company ASAP Group for an enterprise value of EUR251.1 million ($279.5 million).
HCL maintained its annual guidance. It continues to expect fiscal-year revenue will grow 6.0%-8.0% in constant-currency terms and that its earnings-before-interest-and-taxes margin will be at 18%-19%.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
July 12, 2023 22:59 ET (02:59 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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