HCL Tech Q1 Profit Rises 78 Percent to 
885 Crore, Beats Expectations
New Delhi: IT firm HCL Technologies posted 78.1 percent jump in net profit at 
884.8 crore for the first quarter ended September 30.
The company's net profit stood at 496.7 crore in the July-September quarter of 2011, HCL Technologies said in a statement.
HCL follows a July-June fiscal year. On a sequential basis, the company's net profit grew by 3.6 percent during the reporting quarter. Its net profit stood at 854.1 crore in April-June, 2012.
HCL's revenues stood at 6,091 crore during the reporting quarter, up 31 percent from 4,651.3 crore in the July-September quarter of 2011-12.
"A 31 percent year-on-year growth in revenues and a 78 percent growth in net income this quarter reiterates the fact that robust revenue growth can be achieved profitably," HCL Technologies Vice-Chairman and CEO Vineet Nayar said.
Increased wins in Fortune 500 accounts have resulted in Americas and Europe geographies growing at 34 percent and 37 percent y-o-y, respectively, he added.
On a sequential basis, the company's revenues grew by 2.9 percent during the reporting quarter. Its revenue stood at 5,919.1 crore in fourth quarter of FY2011-12.
The board has declared an interim dividend of 2 per equity share of 2 face value.
The company's cash and cash-equivalents stood at 574 crore as on September 30, 2012.
"Higher operating profits coupled with the efficient management of working capital, has enabled us to report 27 percent return on equity on last twelve months (LTM) basis which is in the upper quartile of our industry," HCL Technologies CFO Anil Chanana said.
HCL continues to convert more than 100 percent of the net income to operating cash flow on LTM basis, he added.
During the quarter, the company added 4,479 (gross) and 946 (net) employees, taking its total headcount to 85,335 by the end of September 30, 2012.
HCL has won 12 multi-year, multi-million dollar deals this quarter across service lines, led by manufacturing, financial services and consumer services verticals.
Source: PTI
884.8 crore for the first quarter ended September 30.
The company's net profit stood at 496.7 crore in the July-September quarter of 2011, HCL Technologies said in a statement.
HCL follows a July-June fiscal year. On a sequential basis, the company's net profit grew by 3.6 percent during the reporting quarter. Its net profit stood at 854.1 crore in April-June, 2012.
HCL's revenues stood at 6,091 crore during the reporting quarter, up 31 percent from 4,651.3 crore in the July-September quarter of 2011-12.
"A 31 percent year-on-year growth in revenues and a 78 percent growth in net income this quarter reiterates the fact that robust revenue growth can be achieved profitably," HCL Technologies Vice-Chairman and CEO Vineet Nayar said.
Increased wins in Fortune 500 accounts have resulted in Americas and Europe geographies growing at 34 percent and 37 percent y-o-y, respectively, he added.
On a sequential basis, the company's revenues grew by 2.9 percent during the reporting quarter. Its revenue stood at 5,919.1 crore in fourth quarter of FY2011-12.
The board has declared an interim dividend of 2 per equity share of 2 face value.
The company's cash and cash-equivalents stood at 574 crore as on September 30, 2012.
"Higher operating profits coupled with the efficient management of working capital, has enabled us to report 27 percent return on equity on last twelve months (LTM) basis which is in the upper quartile of our industry," HCL Technologies CFO Anil Chanana said.
HCL continues to convert more than 100 percent of the net income to operating cash flow on LTM basis, he added.
During the quarter, the company added 4,479 (gross) and 946 (net) employees, taking its total headcount to 85,335 by the end of September 30, 2012.
HCL has won 12 multi-year, multi-million dollar deals this quarter across service lines, led by manufacturing, financial services and consumer services verticals.
