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HCL performs better than expectations; all is well, says Vineet Nayar
Wednesday, 20th April 2011
The country's fifth biggest software service provider HCL Technologies today beat street expectations by posting 33 per cent jump in consolidated net profit for the quarter ended March 31.

The stellar performance came on the back of strong growth across verticals. Company Vice Chairman and CEO Vineet Nayar said "all is well" and attributed the good results to early "strategic initiatives".

Revenues for the reported quarter were 31.5 per cent up at Rs 4,138.2 crore from Rs 3,132.1 crore in Q3 FY'10.

"We had a good quarter and I would summarise that all is well. We had a 5.8 per cent sequential growth in revenues which is a result of the strategic initiatives we took in the beginning of the year," Nayar told reporters here.

HCL Technologies shares touched a 52-week high at Rs 525.95 a piece in early trade. The stock closed at Rs 522.85 a piece, up 9.93 per cent from its previous close on the Bombay Stock Exchange.
Publication : Deccan Herald
TAGS : hcl  


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