HCL Tech Q4 Net rises 27% at Rs 2,475.27 crore

IT firm HCL Technologies posted over 27% rise in net profit at Rs 2,475.27 crore for the quarter ended March 2017 compared to the year- ago period.

The country's fourth largest software services firm had registered a net profit of Rs 1,938.66 crore in the January- March 2016 quarter, HCL said in a BSE filing. The Board of Directors has declared an interim dividend of Rs 6 per equity share of Rs 2 each of the company for the financial year 2017-18.

The company's total income was up over 20% to Rs 13,183 crore in the quarter under review from Rs 10,925 crore in the corresponding quarter last year, as per Indian accounting standards.

For 2016-17, net profit was up over 53% to Rs 8,606.47 crore, while total income grew nearly 52% to Rs 48,640.85 crore from the previous financial year. HCL Technologies expects its revenues to grow between 10.5-12.5% in constant currency terms. "For the year FY'17, we delivered a strong double digit constant currency revenue growth of 13.7%... Going forward, we will continue to accelerate investment in high growth areas, driven by our Mode 1-2-3 strategy and sustain our trajectory of delivering exceptional value to our employees, customers and shareholders," HCL Technologies President and CEO C Vijayakumar said.

During the quarter, HCL signed eight transformational deals. At the end of March 2017 quarter, HCL had 1,15,973 employees with a gross addition of 10,605 people. Its attrition for IT services (on last 12 month basis) was at 16.9%, lower than 17.3% in the corresponding quarter last year.