HCL Tech reports strong Q3 FY 2013 numbers; PAT up 72.6%

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HCL Tech reports strong Q3 FY 2013 numbers; PAT up 72.6%
HCL Tech has reported a strong set of numbers for Q3 FY 2013 with net profit surging to Rs 1040 crores, up 72.6 per cent year-on-year.

Revenues are also significantly higher by 23.2 per cent year on year at Rs 6,425 crores. The board has announced a dividend of Rs 2.0 per share, making it the 41st consecutive quarter of dividend payout.

"HCL's sustained growth momentum has been possible because of our uncompromising focus on some strong value fundamentals. Our corporate governance practices are one such foundation which have enabled us to generate long term value for all of our stakeholders. Empowered by the principles of integrity and transparency, these practices continue to be our core differentiator in a rapidly evolving
macro environment," said Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies.

"A key reason behind HCL's stellar performance over the last few years has been its focus on delivering technology led business process transformation to Global 2000 Corporations. The future of the IT services industry will lie in transforming traditional outsourcing models to higher value, innovation driven, non-linear and outcome based business models," said Vineet Nayar, Vice Chairman, HCL

HCL has won over $1 billion in large multi-year transformational deals. Over 90% of these deals are from rebid market and more than 50% are integrated deals.

"We have delivered yet another quarter of strong performance. Our net margins have improved for six straight quarters and are up by 51.5% along with a robust 14.6% USD constant currency growth for the twelve month period ended 31st March 2013," said Anant Gupta, President & CEO, HCL Technologies. "Amidst a challenging and uncertain business environment, HCL continues on its growth
trajectory fuelled by its Alternative Outsourcing (AO) approach led by two unique value propositions of Alternative ASM and Enterprise Function as a Service (EFaaS)," he added.

Meanwhile, Keki Mistry joins HCL Technologies Board as an Independent Director. With the addition of Mistry the board strength has increased to eleven Directors, including nine independent Directors.


Read more about: hcl tech
Story first published: Wednesday, April 17, 2013, 8:39 [IST]
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