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HCL Technologies Ltd has reported a 72.6 per cent jump in profits to Rs 1,040 crore during the third quarter ended March 31, 2013 compared to Rs 602 crore in the corresponding period last year. This is primarily due to strong growth in infrastructure services, winning big deals and reducing staff for two straight quarters.
Revenues grew 23. 2 per cent to Rs 6,425 crore from Rs 5,215 crore in the same quarter last year. The company also announced a dividend of Rs 2 per share, the 41st consecutive quarter of dividend payout.
The stock touched a fresh 52-week high of Rs 809 on the BSE in the opening minutes of trading but was unable to hold on to the gains and eased to Rs 751.15, dropping Rs 11.55 over Tuesday’s closing price.
During the quarter, HCL added 37 customers and bagged five deals valued at over $100 million. The company reduced 791 staff, bringing the total to 84,403 from 85,194. HCL’s net income margin improved to 16.2 per cent from 11.6 per cent . Infrastructure business grew 41.6 per cent.
> Thomas.thomas@thehindu.co.in
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