HCLTech Q3 PAT dips 11% to Rs 4,076 crore
HCLTech, India’s third-largest technology outsourcing company, posted a 3.75% sequential decline in the third-quarter net profit at Rs 4,076 crore, weighed down by one-time restructuring costs stemming from a new domestic labour code. Earnings missed market estimates for profit, while it exceeded revenue expectations.
A poll of analysts by ET had expected the net profit to climb 11.8% QoQ to Rs 4,736 crore, while revenue projections stood at 3.8% growth, at Rs 33,159 crore. Profit also declined 11.2% year-on-year.
