Indian software exporter HCL Technologies Ltd., reported a hike in its stand-alone net profit for the third-quarter as per Indian GAAP, on increased revenues. It stated this in a filing with the Bombay Stock Exchange.
Stand-alone Results
HCL Tech posted a third-quarter stand-alone net profit of Rs.262.57 crore, up 72% from the Rs.152.57 crore in the third-quarter of 2009. On a per-share basis, earnings for the quarter grew by 68% to Rs.3.79 from the Rs.2.26 in the prior- year quarter.
For the quarter, its net revenue rose by 23% to Rs.1,287.11 crore from the Rs.1,048.90 crore for the same period last year, while other income was Rs.34.06 crore, compared with the Rs.44.17 crore in the year-ago quarter.
During the quarter under review, revenue from the Software Services segment grew by 21% to Rs.1,038.54 crore from the Rs.856.94 crore in the year-ago quarter, while that of the BPO services segment fell by 34% to Rs.84.38 crore from the Rs.126.98 crore in the third-quarter of 2009. Revenue from Infrastructure Services surged more than two-fold to Rs.164.19 crore--from the Rs.64.98 crore in the corresponding quarter last year.
During the quarter, the company's manpower strength was 58,129, compared to the 54,026 in the previous quarter. For the quarter, the company added five new clients from Active Client Relationship.
For the nine-month period, HCL Technologies reported a stand-alone net profit of Rs.818.76 crore, compared with the Rs.804.37 crore for the corresponding period a year ago, reflecting a growth of 2%. Total revenue, including other income, grew by 3% to Rs.3,875.59 crore from the Rs.3,749.19 crore in the corresponding period last year.
The company said its board had declared third interim dividend of 50% or Re.1.00 per equity share of Rs.2 each for the fiscal year 2010.
Chairman and Chief Strategy Officer Shiv Nadar said: "The new post-recession era will be marked by transformational changes in the world of business and its impact on the development of society. We decided to explore this new emerging world with thought leaders, customers and analysts in the recently- concluded HCL Global Customer Meet. The insights from the interactions reinforced our thinking. I believe that HCL is uniquely positioned to be in the forefront and succeed in the emergent era."
At the BSE, HCL Tech. share is currently trading at Rs.368.75, down by Rs.23.40 or 6.78% on a volume of 447,000 shares. The stock hit an intraday high of Rs.372.00 and a low of Rs.345.00.
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