HCL Technologies announces Q4 & FY 06 results

HCL Technologies Ltd has announced the following results for the quarter & year ended June 30, 2006:

The Unaudited results for the quarter ended June 30, 2006 are as follows

The Company has posted a net profit of Rs 1364.50 million for the quarter ended June 30, 2006 where as the same was at Rs 852.20 million for the quarter ended June 30, 2005. Total Income is Rs 8131.80 million for the quarter ended June 30, 2006 where as the same was at Rs 4240.90 million for the quarter ended June 30, 2005.

The Audited results for the year ended June 30, 2006 are as follows

The Company has posted a net profit of Rs 6383.80 million for the year ended June 30, 2006 where as the same was at Rs 3292.70 million for the year ended June 30, 2005. Total Income is Rs 31162.60 million for the year ended June 30, 2006 where as the same was at Rs 15300.30 million for the year ended June 30, 2005.

The Audited Consolidated results (as per Indian GAAP) for the year ended June 30, 2006 are as follows:

The Group has posted a net profit of Rs 6906.70 million for the year ended June 30, 2006 where as the same was at Rs 6187.20 million for the year ended June 30, 2005. Total Income is Rs 46808.70 million for the year ended June 30, 2006 where as the same was at Rs 34712.30 million for the year ended June 30, 2005.

The Consolidated results (as per US GAAP) are as follows (in million US $):

The Consolidated results for the quarter ended June 30, 2006

The Group has posted a Net Income of $ 50.61 million for the quarter ended June 30, 2006 where as the same was at $ 37.23 million for the quarter ended June 30, 2005. Total Revenue is $ 272.39 million for the quarter ended June 30, 2006 where as the same was at $ 213.18 million for the quarter ended June 30, 2005.

The Consolidated results for the year ended June 30, 2006

The Group has posted a Net Income of $ 172.14 million for the year ended June 30, 2006 where as the same was at $ 138.05 million for the year ended June 30, 2005. Total Revenue is $ 976.03 million for the year ended June 30, 2006 where as the same was at $ 762.04 million for the year ended June 30, 2005.

A Scheme of Amalgamation 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.

Accordingly, the standalone results for the year ended June 30, 2006 of the Company include results of the "Transferor Companies" for the fifteen months period from April 01, 2005 to June 30, 2006 are not comparable with those of the corresponding previous periods.

Similarly, consolidated results for the year ended June 30, 2006 include results of the "Transferor Companies" for the fifteen months period from April 01, 2005 to June 30, 2006. The results of the Transferor Companies for three months for the period April 01, 2005 to June 30, 2005 has been adjusted in consolidated Profit & Loss A/c & shown under "adjustment under the scheme of amalgamation as the results of transferor Companies for three months, as aforesaid, have been considered in previous year ending June 30, 2005.

"HCL´s "Transformational Strategy" set in motion over the last 12 months has led to a significant positive momentum in our business which is reflected in our underlying business numbers. The landmark deals we have won this year, the global recognition of our employee first strategy, and the sharp acceleration in Remote Infrastructure Management services, consolidation of our BPO business as well as the more mature Technology and IT Services business are very positive trends. We now have the leadership, strategy, and Infrastructure to fuel future business growth", said Shiv Nadar, Chairman and CEO, of the Company.

The Board of Directors of the Company, has recommended a final dividend of Rs 4/- per share (200% on an equity share of face value of Rs 2/-) for the year ended June 30, 2006.

Further the Company has informed that, the Register of Members & Share Transfer Books of the Company will remain closed from December 06, 2006 to December 14, 2006 (both days inclusive) for the purpose of payment of final dividend & Annual General Meeting of the Company to be held on December 14, 2006.

Source : Equity Bulls

Keywords