HCL Tech Q4 net up 51.7 p.c. YoY at Rs 510 cr

MUMBAI, INDIA: Indian IT major HCL Technologies today announced that it made a net profit of Rs 510 crore for the April-June quarter, a jump of 9 per cent compared to the profit of Rs. 468 crore in the previous quarter. Compared to the year-ago quarter profit of Rs 337 crore, the profit jump is 51.7 per cent.

However, the sales were marginally lower than expected, rising 3.9 per cent to Rs. 4,300 crore from Rs. 4,138 crore in the previous quarter, said a press release. Compared to the year-ago quarter, the revenue is up 27.5 per cent.

HCL, which follows a July-June fiscal, also announced its results for the financial year. While the net profit was Rs 1,709 crore, up 30.9 per cent YoY, revenues stood at Rs 16,034 crore, up 27.4 per cent YoY.

For this quarter, the EBIT margins rose to 15.5 per cent against 14.4 per cent in the previous quarter.

The company has announced a final dividend of Rs. 2 per share, the 34th consecutive quarter of dividend payout, taking the total dividend for the year to Rs 7.5 per share, the release added.

Net addition of employees 3,626

On the workforce front, during the fourth quarter, the net addition was 3,626, while the gross addition stood at 9572, taking the total headcount to 77,046, said HCL Technologies.

“Over the last few years HCL Technologies has been investing in creating new capabilities and markets which have given a new face and shape to the company. Additionally our focus on diversity and localizing footprints have tremendously increased our competitiveness in the global IT space,” said Shiv Nadar, founder, HCL and chairman, HCL Technologies and Shiv Nadar Foundation.

Vineet Nayar, vice chairman and CEO, HCL Technologies said, “In these times of dynamic demand and swiftly changing customer priorities, HCL is focusing on building an innovation engine that is agile, business-aligned and employee driven. We continue to balance this thought leadership with an equally rewarding financial performance quarter by quarter."