India’s fourth largest software company HCL Technologies announced its fourth quarter results on Thursday and posted a growth of 12.30 per cent growth in net profit quarter-on-quarter. Reacting to the results, shares of the company gained over 1 per cent on the bourses. On the results, company’s president & CEO C.Vijayakumar said,”“We are very pleased with our industry–leading financial results for both the fourth quarter and the full year FY’17. In Q4, we had a healthy sequential growth of 3.8% (constant currency) in revenues at an EBIT margin of 20%. For the year FY’17, we delivered a strong double–digit constant currency revenue growth of 13.7% at an EBIT of 20.3%,which is at the higher end of the guided range.”
Below are the 5 key takeaways
– The company posted a 12.3 per cent quarter-on-quarter growth in March quarter net profit at Rs 2,325 crore. The IT firm posted over 27 per cent rise in net profit at Rs 2,475.27 crore for the quarter ended March 2017 compared net profit of Rs 1,938.66 crore in the January-March 2016 quarter. For 2016-17, net profit was up over 53 per cent to Rs 8,606.47 crore.
– On quarter-on-quarter basis, its revenue grew 2 per cent at 12,053 crore. The company expects its revenues to grow between 10.5-12.5 per cent in constant currency terms.
– Its 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. Its total income grew nearly 52 per cent to Rs 48,640.85 crore from the previous financial year.
– 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.