HCL Technologies jumped 7.21% to Rs 1,764.55 at 9:50 IST on BSE after consolidated net profit rose 2.3% to Rs 1915 crore on 6.3% growth in revenue to Rs 9283 crore in Q2 December 2014 over Q1 September 2014.
The Q2 result was announced before market hours today, 30 January 2015. The results are as per US GAAP standards.
Meanwhile, the S&P BSE Sensex was down 90.60 points or 0.31% at 29,591.17.
On BSE, so far 1.06 lakh shares were traded in the counter as against average daily volume of 63,000 shares in the past two weeks.
The stock hit a high of Rs 1,834 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,755.90 so far during the day. The stock had hit a 52-week low of Rs 1,257 on 19 May 2014.
HCL Technologies' EBIT (earnings before interest and taxation) rose 5.9% to Rs 2210 crore in Q2 December 2014 over Q1 September 2014.
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HCL Technologies' consolidated net profit rose 7% to $308 million on 4% growth in revenue to $1491 million in Q2 December 2014 over Q1 September 2014. Revenue in constant currency rose 6.2% in Q2 December 2014 over Q1 September 2014.
HCL Technologies said that it has witnessed broad based business growth across geographies, verticals and horizontals. The 6.2% quarter-on-quarter (QoQ) rise in revenue in constant currency in Q2 December 2014 is the highest in the last 16 quarters, HCL Technologies said in a statement.
Commenting on the company's Q2 performance, Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies said, "The global IT industry is undergoing a seismic change as the scope of IT buying expands to capture adjacencies beyond IT. This is not only changing the contours of the traditional buyer as we know it but also bringing technology to the very center stage of organizational competitiveness. In such a scenatio the balanced portfolio, integrated IT services and engineering capabilities of HCL have ensured that we remain service providers of choice for companies looking for business model transformation".
Anant Gupta, President & CEO, HCL Technologies said, "We have posted yet another strong quarter with constant currency revenue growth of 6.2% QoQ and 16.2% YoY. Our continued focus in developing next generation propositions around digitization, engineering platform services and target operating model for enterprise IT have allowed us to stay ahead of the innovation curve and gain significant market share in the global IT services market".
Anil Chanana, CFO, HCL Technologies said, "The outstanding revenue growth this quarter has been accompanied by growth in net income (before extra-ordinary gains last quarter) of 7% QoQ and 27% YoY. We continue to do well in managing our working capital and delivered superior return on equity at 38% for calendar year 2014. In order to expand the retail base, the board has recommended issuance of bonus shares in the ratio of 1 share for every 1 share held".
HCL Technologies said that the board of directors of the company at its meeting held on 30 January 2015, inter alia, recommended 1:1 bonus issue. The board also declared interim dividend of Rs 8 per share for the year ending 30 June 2015.
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.
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