HCL Tech soars post Q4 earnings

EBIT up 73% at Rs 1,148 crore y-o-y basis

HCL Technologies has soared 6% to Rs 507 after reporting a 29% year-on-year (yoy) growth in consolidated net profit at Rs 854 crore for the fourth quarter ended June 2012. Analysts had forecast a net profit of Rs 661 crore for the company, whose customers include Xerox Corp (XRX.N) and Readers Digest Association Inc.

India's fourth-largest software services exporter, reported a 38% growth in consolidated revenues at Rs 5,919 crore in Q4 FY12 against Rs 4,300 crore in the corresponding quarter of previous fiscal. EBIT (earning before interest and tax) surged 73% at Rs 1,148 crore on y-o-y basis.

“The board has announces final dividend of Rs 4 per share, 38th consecutive quarter of dividend payout, taking the total dividend for the year to Rs 12 per share,” HCL Technologies said in a filing.

The stock opened at Rs 505 and hit a high of Rs 512 on the National Stock Exchange. A combined 1.5 million shares have changed hands on the counter in opening deals on both the exchanges.