BANGALORE, July 25 HCL Technologies Ltd
, India's fourth-largest software services exporter,
reported a 29 percent rise in quarterly net profit, just shy of
expectations, after winning more outsourcing orders amid the
global economic uncertainty.
HCL Technologies said on Wednesday consolidated net profit
for the fiscal fourth quarter ended June 30 rose to 6.59 billion
rupees ($117.5 million) from 5.1 billion rupees a year earlier.
Analysts had forecast a net profit of 6.75 billion rupees
for the company, whose customers include Xerox Corp and
Readers Digest Association Inc, according to Thomson
HCL and bigger rival Infosys Ltd are part of
India's $100 billion information technology and back-office
services sector earning the bulk of their revenues from
customers in the United States and Europe.
An uncertain global economy and increased competition from
global rivals such as Accenture Plc make the outlook a
tough one for the Indian providers. Infosys, on July 12,
provided a worse-than-expected forecast of dollar-sales growth
for the year ending March 2013.
($1 = 56.0770 rupees)
(Reporting By Harichandan Arakali; Editing by Gopakumar