HCL Q3 profits beat estimates: what brokerages say

HCL Technologies, India's fourth largest software services provider, beat Street expectations by reporting a 73 per cent year-on-year jump in net profit at Rs. 1,040 crore and a 23.2 per cent increase in revenue at Rs. 6,425 crore for the third quarter.

On a quarterly basis, net profit rose 7.8 per cent while revenue grew 2.4 per cent.
 
An NDTV poll of brokers had estimated the net profit at Rs. 935 crore and sales at Rs. 6,425 crore.

Here's what brokerages have to say on the stock.

Credit Suisse

"We continue to like HCL post Q3FY13 results. Margins are above the management's targeted range of 18-19 per cent, other income was high likely due to some one-offs."

UBS

"HCL Tech Q3 revenue slightly better than estimates, other income drove the 10 per cent profit beat. HCL is likely to remain at a premium to Infosys."

Microsec Research

"As expected, HCL's results once again outperformed its larger peer Infy. We continue to believe that the company may remain an outperformer in the sector together with TCS."

KR Choksey Research

"We currently have an 'accumulate' recommendation on the stock and would review the same post detail analysis."

Goldman Sachs

"HCL reported 12th consecutive quarter of beat. EBIT margin held steady at 19.9 per cent. We reiterate buy on HCL."