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20 April, 2024 19:21 IST
HCL Tech Q2 profit climbs 28%; up 2.3% sequentially
Source: IRIS | 30 Jan, 2015, 10.10AM
Rating: NAN / 5 stars.
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HCL Technologies, one of the leading software exporters, registered a growth of 28% in the consolidated net profit to Rs 19.15 billion for the quarter ended Dec. 31, 2014 as compared to Rs 14.96 billion in the same period last year. On quarter on quarter basis, it posted a rise of 2.3% in the net profit.

Consolidated revenues has increased to Rs 92.83 billion for the quarter ended Dec. 31, 2014 from Rs 81.84 billion in the same period last year, representing increase of 13.43%. On quarter on quarter basis, it posted a rise of 6.3% in the revenues.

Total headcount at 100,240. Gross & Net addition of 11,734 & 4,718 respectively during the quarter.

Board approves for issuing of bonus shares in the ratio of 1:1. This is with the objective to encourage participation of small investors, increasing the liquidity of the equity shares and expand the retail shareholder base.

''The Global IT Industry is undergoing a seismic change as the scope of IT buying expands to capture adjacencies beyond IT. This is not only changing the contours of the traditional buyer as we know it but also bringing technology to the very center stage of organizational competitiveness. In such a scenario the balanced portfolio, integrated IT services and engineering capabilities of HCL have ensuredthat we remain service providers of choice for companies looking for business model transformation,'' said Shiv Nadar, chairman & chief strategy officer, HCL Technologies.
 
''We have posted yet another strong quarter with constant currency revenue growth of 6.2% QoQ and 16.2% YoY. Our continued focus in developing next generation propositions around Digitalization, Engineering Platform Services and Target Operating Model for Enterprise IT have allowed us to stay ahead of the innovation curve and gain significant market share in the Global IT services market,'' said Anant Gupta, president & CEO, HCL Technologies.

''The outstanding revenue growth this quarter has been accompanied by growth in net income (before extra-ordinary gains last quarter) of 7% QoQ and 27% YoY. We continue to do well in managing our working capital and delivered superior return on equity at 38% for Calendar year 2014. In order to expand the retail base, the Board has recommended issuance of bonus shares in the ratio of 1 sharefor every 1 share held,'' said Anil Chanana, CFO, HCL Technologies.

Shares of the company gained Rs 158.55, or 9.63%, to trade at Rs 1,804.45 at the BSE (10.05 a.m., Friday). 

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