IT services company HCL Tech reported that their net profit for the fourth quarter ended March 31 was better than expected.
HCL Tech Q4 net profit came in at ₹2,568 crore in March quarter, which was down 1.7% quarter-on-quarter but better than the Street’s estimates. On a year-on-year basis, net profit was up 15.3%.
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Revenues increased to ₹15,990 crore, up 1.9% quarter-on-quarter and 21.3% year-on-year. In constant currency, revenues rose 3.3% quarter-on-quarter and 15.3% year-on-year. In dollar terms, revenues came in at $2,278 million, up 3.5% QoQ and 11.8% year on year.
HCL Tech expects FY20 revenues to grow between 14% to 16% in constant currency. In comparison, in FY19, revenue growth in constant currency was up 11.8%.
The Noida-based IT company expects operating margin in the range from 18.5% to 19.5% in FY20. In FY19, HCL Tech reported an operating margin of 19.5%.