HCL Tech Q2 net vaults 68.5 per cent to Rs965 cr

HCL Technologies has reported 68.5 per cent increase in its consolidated net income for the quarter ended 31 December 2012, at Rs965 crore, compared with Rs573 crore in the similar quarter of the previous year.

The Noida-based technology provider has July to June as its financial year.

HCL saw its revenues jump 19.6 per cent to Rs6,274 crore in the October-December quarter from Rs5,245 crore in the year-ago period.

HCL Technologies also announced a dividend of Rs2 per share for the quarter, the 40th consecutive quarter of dividend payout.

As of 31 December, total headcount at HCL Technologies stood at 85,194 against 83,076 in the corresponding month of the previous year.

''On the back of this exceptional calendar year performance, our quarterly results demonstrate increasing momentum. Our net margin has improved for five straight quarters to reach 15.4 per cent. All in all, this has been a quarter of great impetus which has placed HCL in a position of advantage for leveraging the changing market dynamics,'' Vineet Nayar, vice chairman, HCL Technologies, said.

The company has appointed Anant Gupta as its president and chief executive. Vineet Nayar, who was CEO and vice chairman of the company, will continue as vice chairman.

The HCL Technologies stock was trading up 5.32 per cent at Rs710.15 on the BSE in early morning trade.