The country’s fourth-largest IT services exporter, HCL Technologies, on Friday reported a consolidated net profit of ₹1,873 crore for the first quarter ended September 30, up 32 per cent from ₹1,416 crore in the corresponding period last year.

Riding on growth in its infrastructure, business, engineering and R&D services, the company’s revenues during the period grew 10 per cent year-on-year (y-o-y) to ₹8,735 crore from ₹7,961crore in the same period last year.

Interim dividend The board of the company declared an interim dividend of ₹6 per equity share of ₹2 each.

“Our customer acquisition momentum continues with yet another billion-dollar quarter, driven by strong growth in global infrastructure services at 16.9 per cent year-on year and engineering and R&D services at 14 per cent. We have also added 15 Fortune 500 clients this quarter,” Anant Gupta, President and Chief Executive Officer, HCL Technologies, said.

The company won 428 deals during the period as compared with 427 during the same period in 2013. As for large deals, it won seven $100 million-plus deals (versus six last year) and fifteen $50 million-plus contracts during the July-September quarter.

However, the company’s shares plunged 9 per cent on the BSE on Friday. “We were expecting higher value because TCS and HCL always do well, if not great as per street expectations,” Sarabjit Kour Nangra, Vice President – IT at Angel Broking, told BusinessLine .

According to Sanchit Vir Gogia, CEO at Greyhound Research, while HCL Tech is continuously striving to create a strong foothold in the digital space, it’s best if HCL focuses on services and verticals that haven’t been generating profits for the company.

HCL Tech shares closed at ₹1,505.55 on the BSE on Friday, down 9.09 per cent from the previous close.

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