HCL Technologies has reported a ₹2,171-crore net profit for the first quarter of financial year 2017-18. This is 6.1 per cent higher than the ₹2,047 crore profit reported in the corresponding quarter of fiscal 2016-17.
The company also announced a dividend of ₹2 per share. An official statement said that this is the “58th consecutive quarter of dividend payout.”
The rise in profits corresponds with the 7.2 per cent increase in revenue. The company reported revenue at ₹12,149 crore for the quarter ended June 30, higher than the ₹11,336 crore top line in the same quarter of the last fiscal.
C Vijayakumar, President & CEO of HCL Technologies, said, “This quarter, we also expanded our EBIT margins from 20 per cent to 20.1 per cent, through continued superior execution in our core business, integration and assimilation of the acquired entities, as well as our IP investments.”
Headcount up The company’s total employee count too increased to 1,17,781 till June 30 from 1,15,973 in June 30 last year. Attrition rates in IT services came down to 16.2 per cent during the first quarter of the current fiscal from 17.8 per cent in the same quarter of the last fiscal.
The attrition in business services, however, rose to 6.7 per cent during the quarter under consideration in the current fiscal from 6.1 per cent in the corresponding quarter of the last fiscal.
Net income margin, however, decreased marginally to 17.9 per cent during the quarter under consideration. This stood at 18.1 per cent in the corresponding quarter of financial year 2016-17.