Chennai: For the year ended June 30, 2007, HCL Technologies ha posted a net profit of Rs. 1,101.82 crore as against Rs. 638.38 crore in the corresponding period in the previous year. The recent results showed an increase of 72.6 per cent in the company’s earnings.

The company’s total income was higher by 35.03 per cent at Rs. 4,208.04 crore against Rs. 3,116.26 crore.

While declaring the results, Vineet Nayar, President, HCL Technologies, said, “The past year has been spectacular for us and in the four consecutive quarters, we have grown sequentially over 9 per cent.”

The company’s board has recommended a final dividend of Rs. 2 a share (face value of Rs. 2) for 2006-07.

At the time when the majority of IT companies were badly dissembled by the increase in the rupee value against the dollar, HCL Technologies brought in a foreign exchange benefit of $79.2 million because of hedging of the rupee in 2006-07.

The company has taken a cover of $1.1 billion, which could defend earnings for nest 18 months, HCL Technologies Chairman Shiv Nadar said.