India-based information technology services firm, HCL Technologies posted a 51.7% rise in its year-on-year net profit for the fourth quarter of fiscal year 2011.
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HCL
India’s fourth largest software services firm, HCL Technologies recorded better than expected 33% rise in net profit for Jan-March. Following this increase, its shares touch iten years high with a hike of 10%.
The company also recorded a net profit of about Rs 4.68 billion in Jan-March, while revenue rose 31.5 per cent to Rs 41.38 billion and earnings before interest, taxes, depreciation and amortisation of Rs 7.16 billion.
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The net profit of HCL has gone up to Rs. 285.97 crore for the quarter ended December 2010. There is a hike of 12 per cent as compared to the last year’s profit. Last financial year the profit of the company was of Rs. 255.44 crore. This has been stated by the HCL Technologies on Wednesday.
The company has said in a statement that the total income of the company has increased to Rs. 1, 687.59 crore. It was Rs. 1259.22 crore during the quarter under review.
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India’s leading IT Services Company HCL Technologies has managed to get a $500-million strategic IT outsourcing contract from the Merck Sharp and Dohme (MSD). The company is located at US and one of the largest drug makers in the world, while HCL Technologies is the fifth largest IT firm of the country.
As per reports there has not been a large size deal for the Indian companies in last two years. After the global economic slowdown and recession, this has been the highest ever deal for any Indian IT firm.
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