HCL Quarter Result: Profit Up 2.4 Percent In The First Quarter

HCL Quarter Result: Profit up 2.4 percent in the first quarter, dividend announced for shareholders.

HCL Tech released the March-June quarter results on Tuesday, July 12.

In the first quarter of the financial year 2022-23, the consolidated net profit of the company increased by 2.4 percent on an annual basis to 3283 crores.

At the same time, on a quarterly basis, it has declined by 8.6 percent. In the fourth quarter of the financial year 2021-22, the company’s profit was Rs 3593 crore.

The board of the company has announced a dividend of Rs 10 for the shareholders.

The face value of 1 share of the company is Rs 2. The company’s income grew 16.9 percent year-on-year to Rs 23,464 crore in the June quarter.

At the same time, there has been an increase of 3.8 percent in the company’s earnings on a quarterly basis. The company’s currency revenue growth in the first quarter has been 2.7 percent.

HCL Quarter Result: Received contracts worth $205 million.

In the first quarter of the company’s ongoing financial year, contracts worth $ 205 million have been received.

The company’s business growth on a quarterly basis was 2.3 percent and the attrition rate (retaining employees) was 23.8 percent.

It was 11.8 percent in the first quarter of the last financial year. The company added 2089 employees in the June quarter.

Company statement.

Roshni Nadar, Chairperson, HCL Tech, said, “As technology becomes the centerpiece of people’s lives and businesses, HCL is accelerating the digital journey transformation for its clients.

We will continue our development strategy with a sense of responsibility towards our stakeholders and society.

HCL Shares Status.

Heavy selling continues in IT stocks and HCL shares are also not untouched by it. On Tuesday, shares of HCL Tech closed near Rs 928, down 1.67 percent or about Rs 16 per share on Nifty.

This stock has lost more than 6 percent in the last week. However, investors are advised to invest money in it. The market cap of the company is more than Rs 2.56 lakh crore.

TCS released the results last week.

TCS reported that its net profit grew 5.2% to Rs 9,478 crore in the June quarter. This is lower than analysts’ expectation of Rs 9,851 crore.

The operating margin for the quarter stood at a multi-year low of 23.1%, up from 25.5% a year ago.

This was mainly due to the increase in annual salary, the rising cost of finding talent, and gradually normalizing travel expenses.