HCL Technologies net profit surges 62 percent

July 27th, 2011 - 11:57 pm ICT by IANS  

Mumbai, July 27 (IANS) HCL Technologies said Wednesday it has posted a 62.14 percent increase in net profit at Rs.385.6 crore for the quarter ended June 30.

The company, which follows July-June financial year, also reported 30 percent hike in the total income for the quarter under review at Rs.15,730.43 crore against Rs.12,136.29 crore during the same quarter in the last financial year.

“We ended the financial year with impressive all-round performance. Our revenues grew by 31 percent year-on-year, net income grew by 35 percent. We continued our journey of gaining market share by reporting 5.3 percent revenue growth this quarter and expanded margins by 105 basis points,” said Anil Chanana, CFO, HCL Technologies.

The growth was led by healthcare at 45.8 percent, retail and consumer packaged goods at 45.4 percent, energy-utilities-public services at 39.1 percent and manufacturing at 34.2 percent year on year.

The company also recommended a final dividend of Rs.2 per equity share.

At the Bombay Stock Exchange, the shares of the company closed 2.32 percent lower at Rs.502.85.

HCL also intends to increase its head count in the coming quarter.

“We have already hired 3,000 people in the June quarter. In this quarter, we will hire an additional 3,000 freshers,” Vineet Nayar, chief executive, HCL Technologies, told reporters here.

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