HCL Technologies, IT services provider in the country, on Thursday, reported its Q4 results and also declared an interim dividend of Rs 18/- per equity share of Rs.2/- each with a record date of April 29, 2022. The said dividend will be paid on May 11, 2022. “Our board is happy to announce a dividend of Rs 18 per share for the quarter, taking the payout for the year to Rs 44 per share for the year, 88.4 percent of EPS, higher than the guided range of 75 per cent”, said Prateek Aggarwal, Chief Financial Officer.
HCL reported 226 per cent growth in its consolidated profit after tax (PAT) at Rs 3,593 crore, compared to Rs 1,102 crore reported in the corresponding quarter a year ago. Due to the impact of deferred tax credit and the one-time milestone bonus paid during Q4FY21, the adjusted net profit during the same period last year stood at Rs 2,962 crore. The adjusted profit after tax for the quarter grew 21.3 per cent year-on-year.
The consolidated revenues of the Noida-based IT company witnessed a growth of 15 per cent at Rs 22,597 crore as against Rs 19,642 crore reported in the year-ago period. On a sequential basis, revenues increased 1.2 per cent in comparison with Rs 22,331 crore reported during the previous quarter.
“Our core beliefs of innovation and collaboration, driven by a strong faith in humanitarian values, have stood us well in these fast-changing times. Clients worldwide see HCL Technologies as their partner of choice to drive business outcomes with our leading-edge technology services, solutions and products. We remain committed to transforming lives and uplifting marginalised communities through the work and perseverance of the HCL Foundation,” Roshni Nadar Malhotra, chairperson at HCL Technologies, said.
The growth in revenues for the quarter was aided by the IT services and ERD (Engineering and Research & Development) business while HCL’s P&P (Products & Platforms) business witnessed a decline due to seasonality.
For the full-year period from April – March, PAT increased by 21.1 per cent to Rs 13,499 crore compared to a profit of Rs 11,145 crore reported in the previous financial year. Consolidated revenues at Rs 85,651 crore have risen by 13.6 per cent compared to Rs 75,379 crore recorded in FY21.
“We have delivered yet another stellar quarter in our Services business, where the revenue is up 5.0 percent QoQ & up 17.5 percent YoY in constant currency”, said C Vijayakumar, Chief Executive Officer & Managing Director. “Over the last three quarters, our Services business has been consistently growing organically at 5 percent and higher, delivering one of the highest CAGR in the industry.”
How Much Dividend Has Been Proposed By TCS, Infosys?
Earlier this month, Tata Consultancy Services (TCS) recommended a final dividend of ~Rs 22 per equity share of Re l each. The proposed final dividend shall be paid on the fourth day from the conclusion of the 27th Annual General Meeting, subject to the approval of the shareholders of the company.
Even, Infosys, while declaring its March quarter results announced that the company’s board has proposed a final dividend of Rs 16 per share, taking the total dividend for FY22 to Rs 31 per share, an increase of 14.8 per cent over the prior year.
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