HCL Technologies Q4 net profit rises 42% at Rs 1210 crore on orders

BANGALORE: HCL Technologies Ltd , country's No. 4 IT services exporter, beat expectations with a 41.6 per cent rise in quarterly profit, after order wins boosted earnings.

Consolidated net profit for the fiscal fourth quarter ended June 30 rose to Rs 1210 crore ($200 million) from Rs 854 crore a year earlier, HCL Technologies said on Wednesday.

Analysts’ polled by ET Now had estimated a net profit for the IT major at Rs 1070 crore.

Revenues of the Noida-based company stood at Rs 6,944 crore showing 8 per cent uptake sequentially, as compared to Rs 6,425 cr reported in the previous quarter.

The dollar revenues grew by 3.1 per cent quarter-on-quarter (QoQ) to $1228 million as compared to $1191 million reported in the previous quarter.

HCL Technologies Ltd has informed BSE that the Board of Directors of the Company at has recommended a final dividend of Rs.6/- per equity share.

“Fy’13 results have demonstrated significant business momentum, non-linearity and record customer satisfaction. HCL continues to excel in agility and innovation with a Business Model that is resilient in a dynamic environment,” said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.

During the quarter, HCL booked in excess of US$ 1 Billion, including 12 multi-year deals from F500/G2000 clients.

“Backed by another strong quarter, we closed our Financial Year on a positive note. Our Net Income margin expanded by 400 bps and touched a five year high of 16%. Our Return on Equity for the year has been 34% which is amongst the best in the industry. EBITDA to Free Cash Flow conversion has been at a healthy 68%," said Anil Chanana, CFO, HCL Technologies.