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In a clear indication that among the top four IT companies, TCS and HCL Technologies are breaking away from Infosys and Wipro, HCL Technologies came out with a 47.8 per cent increase in net profit in Q4 of fiscal ending June 30, 2012.
What was significant was that its revenue moved up not only in INR terms but in terms of US dollar too.
The markets gave thumbs up to the stock with HCL Tech recording a six per cent jump on the BSE in the morning trade.
Revenues
The company said that its revenue was Rs 5,919 crore, an increase of 13.5 per cent QoQ and 37.7 per cent YoY. The net profit was Rs 854 crore, a jump of 41.8 per cent QoQ and 67.3 per cent YoY.
In dollar terms, the revenue was $1,080 million, up 3 per cent QoQ and 12.1 per cent YoY.
Net income, earnings
The net income was $156 million, an increase of 28.7 per cent QoQ and 36.3 per cent YoY.
For the full year, the company's earnings stood at Rs 21,031 crore, an increase of 31.2 per cent YoY.
The EBIT witnessed a sharp jump to Rs 3,461 crore, an increase of 53.7 per cent and the net income stood at Rs 2,526 crore, an increase of 47.8 per cent.
In US $ terms, the full-year revenue was at $4,152 million, up 17.1 per cent. The EBIT at $679 million was up 36.3 per cent and the net income at $495 million was up 30.9 per cent.
"A five-fold increase in 100 million plus clients, a 31 per cent increase in revenues, 54 per cent increase in EBIT and 48 per cent rise in net income year-on-year, establishes that industry leading growth can be achieved profitability," Mr Vineet Nayar, Chief Executive Officer and Vice Chairman, HCL Technologies said.
Mr Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies, while stating that the company has “covered many milestones this year’’ said that it has “continued to demonstrate its ability to navigate through economic turbulence and grow profitably by executing well’’.
On the BSE, the stock shot up to Rs 511.40, an increase of Rs 29.80, a jump of 6.19 per cent. The volumes zoomed to 2.66 lakh shares within an hour compared with 48,000 shares on an average in the past two weeks.
“HCL Tech reported strong set of results, beating market as well as our expectations on all fronts. The dollar revenues grew 3 per cent QoQ, which is in line with what TCS reported," Ms Ankita Somani, Research Analyst-IT, Angel Broking, said.
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