HCL Tech Q4 Net Rises 27% at Rs 2,475 Crore
HCL registered a net profit of Rs 1,938.66 crore in the January- March 2016 quarter
The US had recently accused Indian firms, Infosys and TCS, of unfairly cornering the lion's share of America's H-1B work visas. (Image: Reuters)
IT firm HCL Technologies today posted over 27 percent rise in net profit at Rs 2,475.27 crore for the quarter ended March 2017 compared to the year- ago period.
The country's fourth largest software services firm had registered a net profit of Rs 1,938.66 crore in the January- March 2016 quarter, HCL said in a BSE filing.
The Board of Directors has declared an interim dividend of Rs 6 per equity share of Rs 2 each of the company for the financial year 2017-18. The company's total income was up over 20 percent to Rs 13,183 crore in the quarter under review from Rs 10,925 crore in the corresponding quarter last year, as per Indian accounting standards.
For 2016-17, net profit was up over 53 percent to Rs 8,606.47 crore, while total income grew nearly 52 percent to Rs 48,640.85 crore from the previous financial year. HCL Technologies expects its revenues to grow between 10.5-12.5 percent in constant currency terms.
"For the year FY'17, we delivered a strong double-digit constant currency revenue growth of 13.7 percent... Going forward, we will continue to accelerate investment in high growth areas, driven by our Mode 1-2-3 strategy and sustain our trajectory of delivering exceptional value to our employees, customers, and shareholders," HCL Technologies President and CEO C Vijayakumar said.
During the quarter, HCL signed eight transformational deals. At the end of March 2017 quarter, HCL had 1,15,973 employees with a gross addition of 10,605 people. Its attrition for IT services (on last 12-month basis) was at 16.9 percent, lower than 17.3 percent in the corresponding quarter last year.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Lady Gaga Falls Off Stage With Fan During Concert in Las Vegas, See Video
- Amitabh Bachchan Was Never Hospitalised, Say Kaun Banega Crorepati Sources
- 'Dayaben' Disha Vakani Looks Radiant as Ever in Her Comeback Appearance on TMKOC
- Guidelines For Influencers Are Incoming; a Few Folks And Brands Must be Very Worried
- TRAI to Decide on Jio, Airtel And Vodafone Battle For How Long Your Phone Should Ring