HCL Tech Q3 net climbs 72% to Rs 263 cr

Software outsourcing firm HCL Technologies today said its net profit rose 72 per cent at Rs 262.57 crore for the third quarter ended March 31, over the same period last year.

The total income of the company rose to Rs 1,287.11 crore for the quarter ended March 31, from Rs 1,048.90 crore in the same quarter previous fiscal as per the Indian accounting standards, HCL Technologies said in a filing to the Bombay Stock Exchange.

The board has proposed an interim dividend of Rs 1 per share on the face value of Rs 2 per share to the shareholders.

"The new post-recession era will be marked by transformational changes in the world of business and its impact on the development of society. I believe that HCL is uniquely positioned to be at the forefront and succeed in the emergent era," HCL Technologies Chairman and Chief Strategy Officer Shiv Nadar said.

The company during the quarter made a gross addition of 7,136 employees, taking its total headcount to 58,129.

"We have reported another good quarter driven by strong volume growth of 9.2 per cent and revenue growth of 24.6 per cent year-on-year and 6.6 per cent quarter-on-quarter in IT services," HCL Technologies CFO  Anil Chanana said.

For the nine month ended March 31, 2010, the company has posted a net profit of Rs 818.76 crore, up 1.78 per cent in the same period previous fiscal.

As per the US accounting standards, the company has posted a net income of $76.6 million, up 78 per cent from $43 million the same period last fiscal.

Revenues of the company rose to $685.2 million for the third quarter, from $564.4 million in the same year-ago quarter.

Shares of HCL Technologies were trading at Rs 351.80 on BSE, up 1.87 per cent from previous close.