HCL net down 7.9 percent for first quarter

New Delhi, Oct 19 (IANS) Software major HCL Technologies on Monday reported net profit of Rs.1,726 crore for first quarter (July-September) of its fiscal 2015-16, posting 7.9 percent decline year-on-year (YoY) and 3.2 percent sequentially.

Revenue for quarter under review grew 15.6 percent YoY and 3.3 percent sequentially to Rs.10,097 crore under the Indian accounting standard.

The Delhi-based IT outsourcing firm’s financial year is from July to June.

Under the International Financial Reporting Standard (IFRS), net income was down 14.2 percent YoY and 5.4 percent sequentially to $264 million, while revenue was up 7.7 percent YoY and 0.5 percent sequentially to $1,545 million ($1.55 billion).

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