HCL projects double-digit revenue growth

New Delhi, Oct 21: Software major HCL Technologies Ltd. on Friday projected 11-13 per cent revenue growth for fiscal 2016-17, based on robust performance in the second quarter (July-September) in dollar terms. In a regulatory filing to the stock exchanges, the Noida-based IT outsourcing firm said its revenue will grow 12-14 per cent in constant currency (CC), which translates into 11-13 per cent annual growth for FY 2017 on dollar value as of September 30.

Operating margin (Ebit) for the fiscal is expected to be in the 19.5-20.5 per cent range. Earlier, the company reported Rs 2,014-crore net profit for second quarter, registering 16.7 per cent annual growth in rupee terms. “Revenue for the quarter under review (Q2) increased 14 per cent year-on-year (YoY) to Rs 11,519 crore,” noted the filing. (ians)