HCL Tech net declines

Corporate Reporter

Declares an interim dividend of Re. 1 per share

CHENNAI: HCL Technologies has registered a lower net profit of Rs. 255.44 crore for the quarter ended December 31, 2009, against Rs. 398.01 crore on a standalone basis as per Indian GAAP. According to a release issued to the Bombay Stock Exchange, total income has declined to Rs. 1,213.71 crore from Rs. 1,304.85 crore. The company has declared an interim dividend of Re.1 per share of Rs. 2 each for the year ending June 30, 2010, against Rs. 2 per share in 2008-09.

Revenue from software services is lower at Rs. 987.76 crore against Rs. 1123.05 crore while that from business process outsourcing has improed to Rs. 139.35 crore from Rs. 105.59 crore and networking services to Rs. 120.36 crore from Rs. 42.45 crore. The gross profit from software services was lower at Rs. 286.89 crore against Rs. 330.47 crore and business processing outsourcing Rs. 11.69 crore against Rs. 25.96 crore. The profit realised on networking services was Rs. 30.37 crore against Rs. 20.64 crore. The company continues to perform well in the current market environment and is well placed to continue its balanced growth trajectory.

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