HCL Tech Q3 net profit up 28.7% at Rs 602.5 crore
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HCL Tech Q3: Revenues up 2.5% QoQ
NEW DELHI: IT services firm HCL Technologies today posted a 28.7 per cent increase in net profit at Rs 602.5 crore for the quarter ended March 31, 2012.
The company had posted a net profit of Rs 468.2 crore in the January-March quarter of the last fiscal (2010-11), HCL Technologies said in a statement.
The company's revenues for the reported quarter were up 26 per cent at Rs 5,215.6 crore from Rs 4,138.2 crore in Q3 of FY11.
"A key strategic shift in the global IT industry has been the levelling of the playing field between the Indian origin service providers and the global MNCs. It is encouraging to note that HCL has continued its growth trajectory even in this environment," HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said.
The company has announced an interim dividend of Rs 2 per equity share of the face value of Rs 2 each.
During the quarter, HCL Technologies added 1,394 people (gross), taking the total headcount to 82,464 on March 31, 2012.
Prateek Agarwal, CIO, ASK Investment Managers is of the view that when Infosys results disappointed markets, it raised a doubt on the IT sector.
"After HCL Technologies came out with Q3 results which were above expectations, it seems more of one company issue rather than a sector issue," he said.
At 10:03 AM, shares in HCL Technologies were trading at Rs 502.60, up 4.52% on the Bombay Stock Exchange.
The company had posted a net profit of Rs 468.2 crore in the January-March quarter of the last fiscal (2010-11), HCL Technologies said in a statement.
The company's revenues for the reported quarter were up 26 per cent at Rs 5,215.6 crore from Rs 4,138.2 crore in Q3 of FY11.
"A key strategic shift in the global IT industry has been the levelling of the playing field between the Indian origin service providers and the global MNCs. It is encouraging to note that HCL has continued its growth trajectory even in this environment," HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said.
The company has announced an interim dividend of Rs 2 per equity share of the face value of Rs 2 each.
During the quarter, HCL Technologies added 1,394 people (gross), taking the total headcount to 82,464 on March 31, 2012.
Prateek Agarwal, CIO, ASK Investment Managers is of the view that when Infosys results disappointed markets, it raised a doubt on the IT sector.
"After HCL Technologies came out with Q3 results which were above expectations, it seems more of one company issue rather than a sector issue," he said.
At 10:03 AM, shares in HCL Technologies were trading at Rs 502.60, up 4.52% on the Bombay Stock Exchange.
ASHRAF HUSSAIN
PGDM-2nd semester