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This is an archive article published on February 22, 2014

HCL Corp denies report on plan to sell IT firm

It posted a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore for the December quarter against Rs 944 crore in the year-ago period.

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Shiv Nadar-led HCL Corporation, the firm that controls HCL Technologies and former PC maker HCL Infosystems, today said there are no plans to sell its IT services firm.

The company has also denied reports of HCL founder Nadar seeking potential buyers for the country’s fourth largest software services exporter, HCL Technologies.

“HCL Corporation denies any plans to exit HCL Technologies,” it said in a statement. According to analysts, HCL Technologies has been consistently performing well in the past few quarters and the firm beat market estimates in the October-December 2013 quarter to post healthy results.

It posted a 58.4 per cent rise in consolidated net profit at Rs 1,496 crore for the December quarter against Rs 944 crore in the year-ago period.

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