New Delhi: India’s fifth largest software exporter HCL Technologies on 13 August posted a net profit of Rs486.7 crore in the fourth quarter, up 109% from the year ago, as new clients across geographies and outsourcing services drove growth.
The Shiv Nadar-owned company’s revenue increased 28.6% to Rs1,612 crore on a year-on-year basis with the company making a forex gain of $79.2 million in 2006-07, thanks to hedging in foreign currency.
In fact, the depreciation of the greenback against the Indian unit has prompted the company to hedge $1.1 billion to cover the earnings for the next six quarters, HCL Technologies chairman and CEO Nadar said here.
The company’s net profit for the year ended 30 June stood at Rs1,354.9 crore, up 75% on a year-on-year basis, while its revenues touched Rs6,033.6 crore, an increase of 37.5%. When growth of the top-rung IT companies like Infosys, Wipro, Satyam had been impacted by an appreciating rupee, HCLT is the only company thus far to have registered a forex gain during the year.
The company paid a final dividend of 100% in Q4 taking the total dividend payout in the year to 400%. With the net additions of 9,400 employees in the year, the company’s strength touched 42,000 as on June 30.