IT services firm HCL Technologies on Thursday reported a 14.4 per cent increase in net profit at Rs 1,926 crore for the quarter ended March.
The Noida-based firm had posted a net profit of Rs 1,683 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement.
The company follows the July-June fiscal.
- HCL Tech Q3 net profit up 6 per cent to Rs 2,194 crore
- Bharti Airtel Q3 net profit declines 39 per cent to Rs 306 crore
- Infosys net jumps 38.3% on tax deal with US body
- Tech Mahindra second quarter net profit up 29.7 per cent to Rs 836 crore
- HCL Tech shares down nearly 4% after Q2 earnings
- HCL Technologies Q4 net profit up 54 pct at Rs 1,834 cr
Its revenue for the reported quarter was up 15.4 per cent at Rs 10,698 crore, from Rs 9,267 crore in the same period a year ago.
In dollar terms, the company’s net profit grew 5.5 per cent to USD 285.1 million while revenue rose 6.5 per cent to
USD 1.58 billion in the third quarter of 2015-16 from the year-ago period.
“Our investments in BEYONDigital, IoT WoRKS and Next–Gen ITO helped us close FY16 year with a robust growth of 11.6 per cent LTM YoY in constant currency. This nine-month financial year, we signed 25 transformation deals with more than USD 4 billion of TCV,” HCL Technologies President and CEO Anant Gupta said.
The company has significantly enhanced strengths in new-age services and domain leadership through strategic
client acquisitions, he added.
The company has announced a dividend of Rs 6 per share.
During the quarter, HCL Technologies added 9,280 people (gross) and 1,200 (net) employees, taking the total headcount to 1,04,896 as on March 31, 2016.
HCL signed seven transformational deals this quarter with total contract value of over USD 2 billion. These wins were broad–based across service lines and industry verticals, led by next–generation offerings — BEYONDigital, IoT WoRKS and Next–Gen ITO.
The company’s cash and cash equivalents stood at Rs 729.3 crore at the end of March 31, 2016.
“Healthy cash generation in the last 12 months is reflected in 97 per cent of the net income getting converted
to operating cash flow. We have pursued a well-balanced capital allocation strategy through a combination of capital
expenditure, dividends and acquisitions,” HCL Technologies CFO Anil Chanana said.