HCL Info sparkles, net rises 30.5%

The HCL Infosystems board today recommended a stock split of its Rs 10 face value share into five shares of Rs 2 each along with an interim dividend of Rs 7 per share for the third quarter in a row.

Net sales exceeded $1 billion in the nine month period ended March 2005 for the first time. The company posted a 71.19 per cent jump in net sales to Rs 2,001.34 crore for the quarter ended March 2005 compared with Rs 1,169.06 crore during January-March last year. Net profit during the third quarter rose 17.9 per cent to Rs 65.4 crore.

During the nine month period-ended March 2005, the company's consolidated net sales stood at Rs 5,552.53 crore ($1.2 billion), 84 per cent higher than Rs 3,011.68 crore in the corresponding period last year. HCL Infosystems's consolidated net profit rose 30.5 per cent to Rs 168.66 crore during July-March 2004-05.

The net profit margin during the period was estimated at 3.03 per cent compared with 4.29 per cent last year.