HCL Technologies Q1 net up 76%

By agencies   |   Tuesday, 25 October 2005, 07:00 Hrs
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NEW DELHI: IndiaÂ’s fifth largest software services exporter by sales, HCL Technologies Ltd., today said its July-September profit rose 76 percent.

HCL Technologies which is based in New Delhi, and has clients including Deutsche Bank and Boeing, said its first quarter consolidated net profit excluding other income rose to $34.54 million compared with $19.62 million in the same quarter a year earlier. Group revenues have increased to $220.57 million for the quarter ended September 30, 2005 from $169.99 million in same quarter in 2005-05.

In August, the company had said its gross revenue and profit would rise 30-40 percent each year till 2008 as its business visibility had improved, and 10 customers were expected to provide more than $100 million each in annual revenue in three years' time.

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