HCL Technologies March quarter net profit surges 27 per cent to Rs 2,475.27 crores

IT major HCL Technologies on Thursday posted a healthy growth of 27 per cent in net profit at Rs 2,475.27 crore for the quarter ended March 2017 compared to the year- ago period.

The country's fourth largest software services firm had registered a net profit of Rs 1,938.66 crore in the January- March 2016 quarter, HCL said in a BSE filing.

The Board of Directors has declared an interim dividend of Rs 6 per equity share of Rs 2 each of the company for the financial year 2017-18.

The company's total income was up over 20 per cent to Rs 13,183 crore in the quarter under review from Rs 10,925 crore in the corresponding quarter last year, as per Indian accounting standards.

For 2016-17, net profit was up over 53 per cent to Rs 8,606.47 crore, while total income grew nearly 52 per cent to Rs 48,640.85 crore from the previous financial year.

HCL Technologies expects its revenues to grow between 10.5-12.5 per cent in constant currency terms.

"For the year FY'17, we delivered a strong double?digit constant currency revenue growth of 13.7 per cent... Going forward, we will continue to accelerate investment in high growth areas, driven by our Mode 1-2-3 strategy and sustain our trajectory of delivering exceptional value to our employees, customers and shareholders," HCL Technologies President and CEO C Vijayakumar said.

During the quarter, HCL signed eight transformational deals.

At the end of March 2017 quarter, HCL had 1,15,973 employees with a gross addition of 10,605 people. Its attrition for IT services (on last 12 month basis) was at 16.9 per cent, lower than 17.3 per cent in the corresponding quarter last year.