HCLTech profit up 7%, beats estimates

HCLTech on Friday posted a near 2% sequential decline in its topline at Rs 28,057 crore in the April-June quarter on the back of weakness in the IT services & engineering and R&D services segments. However, the company’s consolidated net profit rose 7% quarter-on-quarter to Rs 4,257 crore, aided by an increase in other income and a small decline in expenditure.

The topline as well as the bottomline came in above Bloomberg consensus estimates.