HCL Technologies Ltd., provider of software-led IT solutions and BPO services, reported a surge in its stand-alone net profit for the first-quarter as per Indian GAAP, on increased income from all business verticals.
Stand-alone Results
HCL Tech posted a first-quarter stand-alone net profit of Rs.699.84 crore or Rs.9.90 per share, compared with the Rs.397.55 crore or Rs.5.66 per share in the first-quarter of 2012. Net profit and earnings per share for the quarter surged by 76 and 75 percent respectively.
For the quarter, its net income rose by 36 percent to Rs.2,696.72 crore from the Rs.1,979.22 crore for the same period last year, while "Other income" was Rs.43.70 crore, compared with the Rs.49.55 crore in the year-ago quarter.
During the quarter, income from the "Software Services" segment increased by 25 percent to Rs.1,933.52 crore from the Rs.1,553.61 crore in the year-ago quarter, while that from "BPO Services" rose by 29 percent to Rs.164.28 crore from the Rs.127.11 crore in the first-quarter of 2012. Income from "Infrastructure Services" during the quarter nearly doubled to Rs.598.92 crore from the Rs.298.50 crore in the preceding-year quarter.
During the quarter, net employee addition was 1,016, taking the total strength to 85,335 as on September 30. Net addition in IT Services was 946.
For the quarter, the company added 38 new clients from Active Client Relationship, taking the tally to 536 as at the end of last month.
During the quarter, HCL Tech has won 12 multi-year, multi-million dollar deals across service lines led by manufacturing, financial services and consumer services verticals.
The company recommended an interim dividend of Rs.2.00 per equity share of Rs.2 each for fiscal 2013 to be paid on October 31.
Chairman & Chief Strategy Officer Shiv Nadar said, "AT HCL we have fostered a culture of pursuing business growth hand-in-hand with social inclusiveness and sustainability. Having posted a strong five year CAGR growth of 23 percent while displaying high standards of social responsibility like local job creation, diversity and environmental commitment, we have created a business model which is both competitive and sustainable."
At the NSE, HCL Tech. shares are currently trading at Rs.590.10, up Rs.5.60 or 0.96 percent on a volume of 21,20,126 shares.
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