HCL Tech Q3 results: The Board of Directors of HCL Tech declared an interim dividend of ₹12 per equity share of ₹2 each for FY 24 on Friday, January 12. The Indian IT major, reported a 13.5% sequential growth in its net profit to ₹4,350 crore during the Oct-Dec quarter of the current financial year.
The record date for the payment of the interim dividend is fixed as January 20, 2024. Whereas, the final payment will be made on January 31, 2022.
“The Board of Directors has declared an Interim Dividend of Rs.12/- per equity share of Rs.2/- each of the Company for the Financial Year 2023-24. The Record date of January 20, 2024, fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors. The payment date of the said interim dividend shall be January 31, 2024,” said the company in its stock filing.
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The third-largest IT services company in India, reported a substantial 13.5% increase in its consolidated net profit attributable to shareholders, reaching ₹4,350 crore in Q3 FY24, compared to ₹3,832 crore in Q2FY24. The company’s quarterly revenue also demonstrated a robust 6.65% QoQ growth, reaching ₹28,446 crore, exceeding market expectations.
Surpassing predictions, HCL Tech’s profit after tax (PAT) for the October-December quarter of the current financial year outperformed with a significant ₹4,350 crore, surpassing the anticipated 11% rise. The company’s consolidated net profit showed a 6.2% YoY increase from ₹4,096 crore in the same period the previous year, while consolidated revenue from operations rose by 6.5% YoY to ₹26,700 crore in Q3FY23.
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In Constant Currency (CC) terms, HCL Tech’s revenue exhibited a 6% sequential and 4.3% annual increase, amounting to $3,415 million. The operating margin experienced a notable 19.8% surge to ₹5,615 crore, marking a 140 basis points improvement QoQ. Net income also witnessed a robust growth of 13.8% QoQ and 7.4% YoY, reaching ₹4,350 crore.
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Published: 12 Jan 2024, 07:16 PM IST
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