HCL Q4 profit surges 110%

MUMBAI: Indian software services firm HCL Technologies Ltd said its fourth-quarter profits surged by 110 percent in dollar terms as media, infrastructure services and Asia-Pacific business pulled the company out of last quarter's slump.

HCL said it earned 3.3 billion rupees ($68.9 million) in net income during the quarter ended June 30, up from $32.8 million in the same period a year earlier, a 110 percent increase in dollar terms. Revenue was 29.1 billion rupees ($607 million), up from $501.7 million a year earlier, a 21 percent increase in dollar terms.

"The past year has been remarkable for us. We have posted industry leading growth while expanding margins at the same time," CEO Vineet Nayar said.