HCL Tech Q4 net up 24.3 pc to Rs 3,154 cr, sees short-term impact of COVID-19

IT services major HCL Technologies on Thursday posted 24.3 per cent jump in March quarter consolidated net profit at Rs 3,154 crore, and said there could be certain short-term challenges like clients deferring new projects and volume-based billing impact on account of COVID-19 pandemic.

HCL Technologies, which had registered a consolidated net profit of Rs 2,550 crore in the January-March 2019 quarter as per Indian accounting norms (Ind-AS), refrained from offering a revenue growth outlook for FY’21 but expressed confidence of a strong performance in the near and long term.