HCL Tech 4Q FY2012 Result Beats Rivals Infosys, Wipro
HCL Technologies has reported its Q4 and year-end results for its fiscal year ended June 30, 2012. The company, in stark contrast to its major competitors, beat all major analyst forecasts with a quarterly revenue increase of 12.1 percent Year-on-Year (YoY) to $1,080 Mn (INR 5919 crore at INR 54.83/USD).
"HCL Tech reported a strong set of results, beating market as well as our expectations on all fronts," said Ankita Somani, Research Analyst– IT, Angel Broking. "HCL Tech, with end-to-end IT capabilities and a strong client mining ability, is clearly emerging as a front runner and is outperforming many of its peers," she added.
HCL Tech reported an increase of 27.5 percent Quarter-on-Quarter for its Earnings Before Interests and Taxes (EBIT) at $210 Mn (INR 1148 crores). The Net Income at $156mn (approx INR 854 crores) was up 28.7 percent QoQ.