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HCL Technologies reported 13% profit in the third quarter, declared dividend of Rs 10 per share

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HCL Technologies’ profit declined 13% in the third quarter of the current financial year. The company on Friday released the financial results for the October-December 2021 quarter of FY 2022. HCL Technologies reported that its profit for the December quarter stood at Rs 3,442 crore, which is 13 per cent lower than the profit of Rs 3,969 crore in the corresponding financial year last year.

HCL Technologies said in a statement, “Profit for the third quarter of the previous financial year also included an amount of Rs 438 crore which was set aside as tax provision, but then changed the way in which tax deduction is calculated.” After this the amount was returned. Taking this out, the profit in the third quarter of the current financial year is down by 2.9 per cent year-on-year.”

On the other hand, if we look at the quarterly basis, the profit of HCL Technologies has increased by 5 percent. The company’s profit in the September quarter stood at Rs 3,259 crore.

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The revenue from operations of Noida-headquartered HCL Technologies grew 15 per cent to Rs 22,331 crore in the third quarter from Rs 19,302 crore in the corresponding quarter of the previous fiscal.

Announcement of interim dividend of Rs.10

The Board of HCL Technologies has announced an interim dividend of Rs 10 per equity share. Shares of HCL closed down 0.32% at Rs 1,330 on Friday. Shares of HCL have given returns of 29.97 per cent to its investors in the last one year. At the same time, the Nifty IT index has gained 24.95 percent during this period.

HCL to acquire Hungarian company for Rs 315 crore

HCL Technologies on Friday said it will acquire Hungarian-based Starskema for about Rs 315 crore. The company said in a notice to the stock exchanges that it has signed an agreement to acquire Hungary-based Starskema. This company provides data engineering services. The acquisition will enhance HCL Technologies’ capability in digital engineering and help the company expand its presence in the Eastern European market.

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Usama Younus

Usama Younus is the owner and super admin of the site he's is an expert in news editing, tech and entertainment magazine management, and articles editing E.T.C.

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