HCLTech Q1 net profit up 6.8% at Rs 4,257 crore; beats estimates

HCLTech, India’s third largest software exporter, reported a 6.8% sequential growth in net profit at Rs 4,257 crore, beating ET’s analyst poll estimates of Rs 3,745 crore. A fatter bottom-line came largely on the back of a spike in non-core income in the June quarter otherwise marked by sluggish demand.

Revenues and margins declined sequentially. The company’s EBIT came at Rs. 4,795 crore, down 4.4% QoQ & up 7.5% YoY.