BUSINESS & FINANCE
HCL net down 4.3% quarterly, up 3.8% yearly
Software major HCL Technologies on Wednesday reported Rs 2,227 crore consolidated net profit for the fourth quarter of fiscal 2017-18, posting 4.3 per cent annual decline from Rs 2,325 crore in the same period year ago (2016-17) but up 1.5 per cent sequentially from Rs 2,194 crore quarter ago.
Net profit, however, grew 3.8 per cent year-on-year (YoY) to Rs 8,780 crore for the fiscal under review (FY 2018) from Rs 8,457 crore in FY 2017.
In a regulatory filing to the BSE, the Noida-based IT firm said consolidated revenue grew 9.3 per cent YoY to Rs 13,179 crore for the quarter under review (Q4) from Rs 12,053 crore in the like period year ago and 2.9 per cent sequentially from Rs 12,808 crore quarter ago.
Revenue for FY 2018 grew 8.2 YoY to Rs 50,570 crore from Rs 46,723 crore in FY 2017.
Under the International Financial Reporting Standard (IFRS), net profit for the quarter slipped 1.7 per cent YoY to $344 million from $350 million year ago but grew 1.1 per cent sequentially from $340 million quarter ago.
Net profit, however, grew 7.7 per cent YoY to $1,360 million for the fiscal from $1,262 million year ago while revenue grew 12.4 per cent YoY to $7,838 million from $6,975 million year ago.
Revenue for the fiscal (FY 2018) grew 12.2 per cent YoY to $ 7,838 million from $6,975 million in FY 2017.
Earnings before interest, tax, depreciation and amortisation (Ebitda) was up 14.6 per cent YoY to Rs 3,036 crore for the quarter from Rs 2,649 crore in the same period year ago and 2.4 per cent sequentially from Rs 2,964 crore quarter ago.
Ebitda for the fiscal grew 11 per cent YoY to Rs 11,404 crore from Rs 10,309 crore year ago.
Under IFRS, Ebitda grew 17.6 per cent YoY to $470 million for Q4 from $399 million in the same period year ago and 2.1 per cent sequentially from $460 million quarter ago and 15.2 per cent YoY to $1,773 million from $1,539 million year ago.
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