Business
HCL Tech Q3 Results: Board Approves Interim Dividend of ₹12 per Share
The Board of Directors of HCL Tech has declared an interim dividend of ₹12 per equity share of ₹2 each for FY 24. The company reported a 13.5% sequential growth in net profit to ₹4,350 crore during the Oct-Dec quarter of the current financial year.
The record date for the payment of the interim dividend is fixed as January 20, 2024. The final payment will be made on January 31, 2022.
Surpassing predictions, HCL Tech’s profit after tax (PAT) for the October-December quarter of the current financial year outperformed with a significant ₹4,350 crore, surpassing the anticipated 11% rise. The company’s consolidated net profit showed a 6.2% YoY increase from ₹4,096 crore in the same period the previous year, while consolidated revenue from operations rose by 6.5% YoY to ₹26,700 crore in Q3FY23.
In Constant Currency (CC) terms, HCL Tech’s revenue exhibited a 6% sequential and 4.3% annual increase, amounting to $3,415 million. The operating margin experienced a notable 19.8% surge to ₹5,615 crore, marking a 140 basis points improvement QoQ. Net income also witnessed a robust growth of 13.8% QoQ and 7.4% YoY, reaching ₹4,350 crore.
