Buoyed by the decline of the rupee, IT services major HCL Technologies
announced on Thursday that it had posted revenues of Rs. 7,961 crores
in the first quarter ending September 30, 31 per cent than a year
earlier. The company made a net profit of Rs. 1416 crores, up 64 per
cent on a year-ago basis. Revenues in dollar terms were $1.27 billion,
14 per cent higher than a year earlier. The company’s
dollar-denominated net profit was $226 million, 43 per cent higher than
in the corresponding quarter of the previous year.
Shiv Nadar, Chairman and Chief Strategy Officer, said
the company’s “strong and differentiated business model” had enabled it
to take advantage of the “encouraging” macroeconomic environment.
Anil Chanana, Chief Financial Officer, said the
company’s “layered hedging policy” had enabled it to deliver a net
margin of 17.8 per cent. “This was the eighth straight quarter in which
our margin has expanded,” he observed.
The company announced a dividend of Rs. 2 per share for the quarter.
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