HCL posts 23.3% rise in net income

HCL posts 23.3% rise in net income
PTI
Comment E-mail Print Share
First Published: Tue, Oct 16 2007. 05 23 PM IST
Updated: Tue, Oct 16 2007. 05 23 PM IST
New Delhi: HCL Technologies, the fifth largest software exporter in the country, today posted 23.3% increase in its net income on year-on-year to Rs308.4 crore for the first quarter ended September 30 on the back of robust outsourcing deals and growth in the number of new clients.
During the quarter, the company had a forex gain of Rs14.5 crore as it had hedged its forex significantly. In the quarter ended June 30 this year the company had a forex gain of Rs250 crore.
The company’s revenue for the September quarter was also up at 23.9% on year-on-year at Rs1,709.2 crore.
For the last 12 months, the revenue stood at Rs6,363.4 crore.
The Shiv Nadar-run company announced an interim dividend of 100% for the quarter.
“HCL’s has held onto its margin on year-on-year basis despite 12%-13% appreciation in rupee and this demonstrates the growing robustness of its business model,” HCL CEO Vineet Nair said.
Comment E-mail Print Share
First Published: Tue, Oct 16 2007. 05 23 PM IST