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HCL Tech Q3 revenues up 44% and net income up 76%, declares 100% dividend
Posted On : 2007-04-17 05:49:43( TIMEZONE : IST )
HCL Technologies Ltd has announced the following Unaudited results for the quarter ended March 31, 2007:
The Company has posted a net profit of Rs 2385.90 million for the quarter ended March 31, 2007 where as the same was at Rs 1347.60 million for the quarter ended March 31, 2006. Total Income (net of excise) is Rs 10233.70 million for the quarter ended March 31, 2007 where as the same was at Rs 7297.20 million for the quarter ended March 31, 2006.
The Consolidated Results (as per US GAAP) are as follows: (in million US $)
The Group has posted a Net Income of $ 76.2 million for the quarter ended March 31, 2007 where as the same was at $ 43.2 million for the quarter ended March 31, 2006. Total Revenues is $ 362.4 million for the quarter ended March 31, 2007 where as the same was at $ 251.5 million for the quarter ended March 31, 2006.
A Scheme of Amalgamation ("Scheme") under sections 391 to 394 of the Companies Act, 1956 for amalgamation of DSL Software Ltd, Shipara Technologies Ltd, HCL Technologies BPO Services Ltd, HCL Technologies (Mumbai) Ltd, Aquila Technologies Ltd and HCL Enterprise Solutions (India) Ltd, all wholly owned subsidiaries of the Company ("Transferor Companies") with the Company was approved by the Hon'ble High Courts of Delhi and Karnataka during the quarter ended December 31, 2005. The effective date of amalgamation is April 01, 2005.
On approval by the Hon'ble High Courts, the results of the Transferor Companies for the nine months period, April 01, 2005 to December 31, 2005 were included in the results of the Company for the quarter ended December 31, 2005 and the results for the nine months period ended March 31, 2006 includes the results of Transferor Companies for the twelve months period ended March 31, 2006. Therefore the results for the nine months period ended March 31, 2007 are not comparable with those of the corresponding previous periods. The results for the year ended June 30, 2006 also included the results of Transferor Companies for the 15 months period ended June 30, 2006.
The Board of Directors of the Company has declared an interim dividend of Rs 2/- per share (100% on an equity share of face value of Rs 2/-).
The Company has further informed that the Board of Directors of the Company has confirmed April 24, 2007 as the Record Date for the purpose of payment of third interim dividend.
