HCL Tech reports 5.54% profit growth

Andrew Dubbs
3 Min Read
Tech Profit

JSW Energy announced it has emerged as the successful applicant to acquire KSK Mahanadi Power Company. This follows the approval by the Committee of Creditors, with the closure of the transaction pending necessary regulatory approvals from the National Company Law Tribunal and the Competition Commission of India. HCLTech reported a 5.54% growth in consolidated net profit, reaching ₹4,591 crore for the December quarter of the 2024-25 financial year.

Revenue from operations for the quarter came in at ₹29,890 crore, 5.07% higher than ₹28,446 crore in Q3 FY24. Profit and revenue increased by 8.4% and 3.56%, respectively. Himadri Speciality reported a net profit of ₹107.89 crore in the corresponding period of the previous year.

Revenue rose 7.53% to ₹1,131.81 crore, up from ₹1,052.51 crore in Q3FY24. Den Networks’ revenue from operations came in at ₹1,262.20 crore, up 19.2% from ₹1,059.04 crore posted in the corresponding quarter of the previous financial year.

HCL Tech profit growth in the December quarter

Anand Rathi posted a profit of for HCL Tech as ₹58 crore (nearly 8 million US dollars) in the same period last year. Total revenue for the quarter stood at ₹244.2 crore, a 30% year-on-year growth from ₹187.3 crore in the previous year. United Spirits’ board has approved a proposal to increase the shareholding limits for foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) from 24% to 49% of the paid-up share capital.

Other companies news

Several major companies, including Reliance Industries Limited (RIL), Infosys, and Tech Mahindra, are set to declare their Q3 earnings this week. In overnight trade, the Nasdaq fell, while the benchmark S&P 500 bounced off a two-month low, eking out a slight gain. The Dow Jones Industrial Average rose 358.67 points, or 0.86%, to 42,297.12; the S&P 500 gained 9.18 points, or 0.16%, to 5,836.22; and the Nasdaq Composite lost 73.53 points, or 0.38%, to 19,088.10.

Vodafone Idea shares jumped 5.2% on their partnership with HCLSoftware to automate 4G and 5G networks. The NIFTY50 jumped 100 points, and the SENSEX crossed 76,500 levels in mid-market sessions. Investors are advised to watch these stocks during today’s trading session as they may see significant activity due to recent announcements and earnings reports.

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Andrew covers investing for considerable.com. He writes on the latest news in the stock market and the economy.