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HCL Profit Up 59% to Rs 1,624 crore, to Pay Rs 4 Interim Dividend

Information Technology software and solutions provider, HCL Technologies reported a net profit increase of 59 per cent at Rs 1,624  crore during the third quarter.  The company follows July-June fiscal.

Published: 18th April 2014 06:00 AM  |   Last Updated: 18th April 2014 01:01 AM   |  A+A-

Information Technology software and solutions provider, HCL Technologies reported a net profit increase of 59 per cent at Rs 1,624  crore during the third quarter.  The company follows July-June fiscal.

Revenues were up 29.8 per cent at Rs 8,349 crore from Rs 6,430 crore in Q3 Fy12.

“We continue on our growth momentum with a strong revenue growth of three per cent quarter-on-quarter along with 10th straight quarter of margin expansion,” Anant Gupta, President and CEO of the Noida-based IT majors said in a statement here on Thursday.

The company’s net profit in dollar terms grew 39.9 per cent to $264.2 million. Revenues (dollar terms) saw a growth of $1.36 billion in the third quarter when compared to the same period in the corresponding quarter last fiscal.

The company has announced an interim dividend of Rs 4 per equity share of face value of Rs 2 each.

Attributing the high growth numbers to their industrialised delivery model, company CFO Anil Chanana said that their increasing the number of contracts also helped them move into a steady state.

Sequentially, the net profit was higher by 8.5 per cent from Rs 1,496 crore and revenue was up two per cent from Rs 8,184 crore in the October-December 2013 quarter, it was reported. In specific geographies, the company saw good traction as well. Americas registered a 11 per cent y-o-y growth while Europe surged ahead with 26 per cent while the rest of the world geographies grew 4 per cent, the company said.

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