HCL Tech Q2 net profit plummets over 35pc

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HCL Tech Q2 net profit plummets 35 pc
New Delhi, Jan 25: HCL Techlogies Ltd on Monday, Jan 25 posted worse-than-predicted second quarter (Q2) numbers of FY10 leading its shares to a 6.5 per cent fall on the markets in early trade.

India's third-largest software firm's quarterly net profit fell 35.92 per cent at Rs 255 crore for the quarter ended Dec 31.

In the Oct-Dec quarter, the company's, total income declined to Rs 1,259.20 crore as opposed to Rs 1,430.4 crore in the same period previous fiscal, while the net sales declined 6.98 per cent to Rs 12,137 million when compared with the prior year period.

HCL Tech's consolidated net income declined by 16.94 per cent to USD 63.8 million (about Rs 294 crore) in the period from USD 76 as per the US accounting standards, the company said.

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