HCL Tech Q3 increases 36 percent

By siliconindia staff writer   |   Tuesday, 27 April 2004, 07:00 Hrs
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NEW DELHI: HCL Technologies Ltd has posted a net profit of Rs 97.4 crore for the quarter ended March 31, 2004, representing an increase of 36.6 percent as compared to a net profit of Rs 71.3 crore for the quarter ended March 31, 2003. Total income has increased from Rs 243.1 crore in the same period last year to Rs 329.4 crore, this year, an increase of 35.4 percent.

The Group has posted a net income of Rs 125.8 crore for the quarter ended March 31, 2004 as compared to Rs 60.3 crore, last year. The revenues have increased from Rs 465.8 crore, last year to Rs 647.2 crore in the quarter ended March 31, 2004, a 39 percent increase.

The Board has declared a third interim dividend of Rs 2 per share (100 percent on the equity share of face value of Rs 2 each).

Commenting on the company's performance, HCL Technologies chairman and CEO Shiv Nadar said, "I strongly believe that HCL Technologies is today on a continuum that looks extremely promising. Our financial performance this quarter is largely in line with our expectations, with further momentum in the topline and an expansion of operating margins. We have rationalized our cost structures, propelled the JVs on a fast track and integrated operations in a way that has unleashed significant synergies, whereby our profitability is back on track."

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