<p>HCL Technologies Ltd, India's fourth-largest IT services exporter, reported on Thursday quarterly growth in its dollar-denominated revenue that missed analyst estimates, sending the company's shares down by as much as 2.5 percent.</p>.<p>For most IT services companies, analysts and investors track the dollar sales numbers as clients oversees get billed in that currency. For the quarter ended June, HCL posted a 3.4 percent rise from March to $1.4 billion, below industry leader Tata Consultancy Services' (TCS) 5.5 percent increase.</p>.<p>"We were expecting it to grow about 4 percent. In the past HCL has been able to keep at about the same dollar revenue growth as TCS," said Ankita Somani, analyst at brokerage MSFL Research.</p>.<p>HCL is part of a $108 billion Indian outsourcing sector that generate the lion's part of their sales by providing services like IT network installation and development of software applications to Western clients.</p>.<p>Revenue from the Americas, HCL's largest market, saw a rise of 12 percent in the quarter, while sales in Europe, where the company's clients include a British government agency and a Swiss pharmaceutical company, rose 25 percent.</p>.<p>Consolidated net profit in its fiscal fourth-quarter ended June 30 rose 54 percent to 18.34 billion rupees ($305.4 million) from 11.93 billion rupees a year earlier, the company said.</p>.<p>Analysts, on average, had expected the company to report a net profit of 16.15 billion rupees. HCL shares were trading 2.5 percent lower at 1,556.95 rupees at 10:51 a.m., while the Nifty was down 0.1 percent. Research firm Gartner says global IT spending is expected to total $3.7 trillion in 2014, up 2.1 percent from a year earlier.</p>
<p>HCL Technologies Ltd, India's fourth-largest IT services exporter, reported on Thursday quarterly growth in its dollar-denominated revenue that missed analyst estimates, sending the company's shares down by as much as 2.5 percent.</p>.<p>For most IT services companies, analysts and investors track the dollar sales numbers as clients oversees get billed in that currency. For the quarter ended June, HCL posted a 3.4 percent rise from March to $1.4 billion, below industry leader Tata Consultancy Services' (TCS) 5.5 percent increase.</p>.<p>"We were expecting it to grow about 4 percent. In the past HCL has been able to keep at about the same dollar revenue growth as TCS," said Ankita Somani, analyst at brokerage MSFL Research.</p>.<p>HCL is part of a $108 billion Indian outsourcing sector that generate the lion's part of their sales by providing services like IT network installation and development of software applications to Western clients.</p>.<p>Revenue from the Americas, HCL's largest market, saw a rise of 12 percent in the quarter, while sales in Europe, where the company's clients include a British government agency and a Swiss pharmaceutical company, rose 25 percent.</p>.<p>Consolidated net profit in its fiscal fourth-quarter ended June 30 rose 54 percent to 18.34 billion rupees ($305.4 million) from 11.93 billion rupees a year earlier, the company said.</p>.<p>Analysts, on average, had expected the company to report a net profit of 16.15 billion rupees. HCL shares were trading 2.5 percent lower at 1,556.95 rupees at 10:51 a.m., while the Nifty was down 0.1 percent. Research firm Gartner says global IT spending is expected to total $3.7 trillion in 2014, up 2.1 percent from a year earlier.</p>