HCL Tech Q1 net income splurge up

NOIDA: HCL Technologies reported a 49.4 per cent increase in consolidated net income to Rs 250.2 crore for the first quarter ended September 30, from Rs 167.5 crore reported for the corresponding quarter last year.

The revenues of the company grew 42.1 per cent to Rs 1379.5 year-on-year from Rs 970.7 crore.

Sequentially, the company's net income showed an increase of 7.4 per cent from Rs 233 crore, while the revenues went up 10 per cent from Rs 1253.8 crore.

"We will continue to see higher expenditure in infrastructure and business till 2010 as we gear up for the future," HCL chairman Shiv Nadar said.

The company's EBITDA at Rs. 299 crore was up 38.5 per cent Y-o-Y and 6.2 per cent sequentially.

The company added 3826 employees, taking its total strength to 36,452 as of September 30. HCL also declared an interim dividend of 200 per cent.