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Published on 19/01/2018 8:48:51 AM | Source: Reuters

HCL Technologies posts lower-than-expected third-quarter profit

HCL Technologies Ltd posted a marginal rise in quarterly profit on Friday, but missed estimates, hurt by higher expenses.

Profit attributable to shareholders rose to 20.75 billion rupees ($324.93 million) in the quarter ended Dec. 31, from 20.62 billion rupees a year earlier, the software services exporter said.

Analysts on average had expected a profit of 21.57 billion rupees, Thomson Reuters data showed.

Total expenses rose 11 percent to 104.72 billion rupees in the quarter.

The company maintained its forecast for full-year revenue growth in a range of 10.5 percent-12.5 percent in constant currency terms.

($1 = 63.8600 Indian rupees)

(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Sunil Nair)