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HCL Technologies posts higher quarterly earnings

India-based IT services company HCL Technologies Ltd. posted net income of $355.8 million in the first fiscal quarter from $336.7 million in the same period last year.

Diluted earnings stood at 26 cents per share in the quarter that ended June 30, up from 23 cents per share in the comparable prior-year period.

Revenues totaled $2.05 billion, up from $1.88 billion year over year.

Revenue from HCL's software services business was $1.20 billion, up from $1.09 billion, and infrastructure management services posted revenue of $744.5 million, up from $727.4 million. Business process outsourcing services revenue rose to $107.1 million from $66.9 million.

Gross profit rose to $706.5 million from $634.5 million, and income before income taxes came in at $447.9 million, up from $420.7 million.