Software major HCL sees net annual growth up by 6%

Global software major HCL Technologies today saw a impressive growth of Rs 2,171 crore consolidated net profit for the first quarter (Q1) of fiscal 2017-18, registering 6.1 per cent annual growth from Rs 2,047 crore.

In a regulatory filing on the BSE, the IT major said consolidated revenue from operations was 7.2 per cent up annually to Rs 12,149 crore for the quarter under review (Q1) from Rs 11,337 crore in the same period year ago but flat (0.8 per cent) sequentially from Rs 12,053 crore quarter ago.

Read:- HCL sees flat quarterly growth in Q2

Under the International Financial Reporting Standard (IFRS), net income grew 10.3 per cent annually to $337 million in Q1 from $305 million in the same period year ago but 3.8 per cent lower sequentially from $350 million quarter ago.

Gross revenue, however, grew 11.4 per cent annually to $1,884 million in Q1 from $1,691 million and 3.7 per cent up sequentially from $1,817 million quarter ago.