HCL Tech 4Q FY2012 Result Beats Rivals Infosys, Wipro

Anup Varier July 25, 2012
HCL Tech 4Q FY2012 Result Beats Rivals Infosys, Wipro
While Wipro and Infosys fell short of analyst expectations with their Q1 FY2013 results, HCL Technologies has emerged unscathed by the economic uncertainties that seem to have affected its competition.

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.