HCL Technologies Q4 net profit zooms to Rs.391.23 Crores, recommends 100% final dividend

HCL Technologies Ltd has announced the following results for the quarter & year ended June 30, 2007.

The Un-audited results for the Quarter ended June 30, 2007 are as follows: The Company has posted a net profit of Rs 3912.30 million for the quarter ended June 30, 2007 where as the same was at Rs 1364.50 million for the quarter ended June 30, 2006. Total Income is Rs 12387.20 million for the quarter ended June 30, 2007 whereas the same was at Rs 8131.80 million for the quarter ended June 30, 2006.

The Audited results for the Year ended June 30, 2007 are as follows : The Company has posted a net profit of Rs 11018.20 million for the year ended June 30, 2007 where as the same was at Rs 6383.80 million for the year ended June 30, 2006. Total Income is Rs 42080.40 million for the year ended June 30, 2007 where as the same was at Rs 31162.60 million for the year ended June 30, 2006.

The Audited Consolidated results (as per Indian GAAP) for the year ended June 30, 2007 are as follows: The Group has posted a net profit of Rs 13183.10 million for the year ended June 30, 2007 where as the same was at Rs 6906.70 million for the year ended June 30, 2006. Total Income is Rs 65245.90 million for the year ended June 30, 2007 where was the same was at Rs 46808.70 million for the year ended June 30, 2006.

The Consolidated results (as per US GAAP) are as follows (in million US $): The Group has posted a Net Income of $ 119.47 million for the quarter ended June 30, 2007 where as the same was at $ 50.61 million for the quarter ended June 30, 2006. Total Revenue is $ 395.69 million for the quarter ended June 30, 2007 where as the same was at $ 272.39 million for the quarter ended June 30, 2006.

The Consolidated results for the year ended June 30, 2007: The Group has posted a Net Income of $ 314.91 million for the year ended June 30, 2007 where as the same was at $ 172.14 million for the year ended June 30, 2006. Total Revenue is $ 1389.58 million for the year ended June 30, 2007 where as the same was at $ 976.03 million for the year ended June 30, 2006.

In accordance with a scheme of amalgamation concluded in the previous year, the financial results for the year ended June 30, 2006 cover a period of 15 months for the merged companies and consolidated results contain an adjustment of Rs 6,106 lacs in the Profit & Loss Account. Hence, the results for the year are not comparable with the previous year.

The Board of Directors of the Company at its meeting held on August 13, 2007, inter alia, has recommended a final dividend of Rs 2/- per share (100% on an equity share of face value of Rs 2/-) for the year ended June 30, 2007.

Source : Equity Bulls

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