October 23, 2018 / 10:49 AM / in 23 days

HCL Tech posts higher-than-expected second-quarter profit

People walk in front of the HCL Technologies Ltd office at Noida, on the outskirts of New Delhi, April 17, 2013. REUTERS/Mansi Thapliyal/File Photo

(Reuters) - Indian software services exporter HCL Technologies Ltd posted a 14.8 percent rise in second-quarter net profit, beating analysts’ estimates, helped by higher revenue from its software services business.

Net profit attributable to shareholders rose to 25.34 billion rupees ($344.43 million) in the quarter ended Sept. 30, from 22.07 billion rupees a year ago.

Analysts on average had expected a consolidated profit of 24.50 billion rupees, according to Refinitiv data.

Revenue from operations jumped 19.5 percent to 148.60 billion rupees, while revenue from the software services business rose about 21 percent to 87.11 billion rupees.

($1 = 73.5700 Indian rupees)

Reporting by Mekhla Raina and Krishna V Kurup in Bengaluru; Editing by Maju Samuel

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