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HCL Tech Net Profit Up By 43.3% in Q4 – Isn’t That A Good Sign?

HCL Technologies Ltd., India’s software services exporter saw a raise in the net profit by 43.3% to Rs 5.73 billion compared to last year which was Rs 4 billion. Due to stable demand for outsourcing technology services, HCL Technologies’ revenues descended by 34.9% to Rs 52.45 billion when the quarter ended on December 31.

HCL Technologies

HCL Technologies

In the same quarter last fiscal 2010-11, the revenue was Rs.38.88 billion. Shares of the company increased a value of 6.4% on the Bombay Stock Exchange (BSE) approximately Rs 432.25 in the early trade. Company was trading at Rs.424.50 up 4.5% at 2.51 p.m. today on the BSE.

The company signed 18 deals worth a value of $1 billion in during October-December in various sectors, including banking, financial services and insurance and healthcare. There are deals with a total contract value of $47 billion to be made in the calendar year 2012. And if the 30% churn goes on the company will represent a $15 billion opportunity, as said by Vineet Nayar, vice-chairman and chief executive officer of HCL.

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