HCL Technologies quarterly net profit rises 26.37 percent

HCL Technologies quarterly net profit rises 26.37 percentNew Delhi, April 20 : HCL Technologies Wednesday posted an increase of 26.37 percent in net profit at Rs. 331.8 crore for the quarter ended March 31 as against Rs. 262.6 crore during the like period of the last fiscal.

At the Bombay Stock Exchange, the shares of the company soared 8.66 percent to rule at Rs. 516.80 in afternoon trade. It had touched an intra day high of Rs. 522.35.

The total income of the company increased to Rs. 1,697.7 crore as against Rs. 1,287 crore during the quarter under review, the company said in a regulatory filing.

"We continue to expand market share backed by a second sequential quarter of revenue growth of 30 percent year on year along with expansion in margins," said Vineet Nayar, vice chairman and chief executive officer, HCL Technologies.

"HCL's focus on forward investment in key markets and transformation services is paying rich dividends," he added.

The company reported positive growth across service offerings with infrastructure services posting 8.5 percent quarter on quarter and custom applications services and enterprise application services each posting 6.7 percent quarter on quarter.

All verticals reported positive growth with financial services posting double digit growth at 12.6 percent quarter on quarter.

The gross employee addition for the quarter under review stood at 7,534 taking total headcount to 73,420.

The company also announced a dividend of Rs. 2 per share, its 33rd consecutive quarter of dividend payout.

The company also said that R. Srinivasan had joined the board as additional director. His appointment will be effective from April 19, 2011.(IANS)