HCL Beats Forecast, Stock Up By 4%
Suparna / 17 Jan 2013
HCL Tech announced its results for the quarter ending December 31, 2012 earlier today. The company beat street expectations pushing stock prices up by 4%.
HCL Tech announced its results for the quarter ending December 31, 2012 earlier today. The company beat street expectations pushing stock prices up by 4%.
The revenues for HCL Tech grew by 3.6% sequentially to USD 1.154 billion. The margins broke the trend seen in earlier result announcements with the EBITDA margin improving by 40 basis points to 22.6% as compared to the previous quarter. At the same time, net profit jumped higher by 9.7% sequentially to USD 177.5 million. The financial robustness was coupled with a strong volume growth of 3%.
Strong growth was seen coming in from financial services and infrastructure management services, among other areas.
To read a detailed analysis of the earnings and to get key takeaways from the earnings conference call, keep an eye on this space.
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