HCL Technologies surged 4.37% to Rs 796 at 9:19 IST on BSE after consolidated net profit as per US accounting standards rose 7.8% to Rs 1040 crore on 2.4% growth in revenue at Rs 6425 crore in Q3 March 2013 over Q2 December 2012.
The company announced Q3 results before trading hours today, 17 April 2013.
Meanwhile, the S&P BSE Sensex was up 48.47 points or 0.26% at 18,793.40.
On BSE, 40,000 shares were traded in the counter as against average daily volume of 81,000 shares in the past two weeks.
The stock hit a high of Rs 809 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 793.05 so far during the day.
HCL Technologies' earnings before interest, taxation, deprecation and amortization (EBITDA) rose 1.6% to Rs 1439.30 crore in Q3 March 2013 over Q2 December 2012. The EBITDA margin declined to 22.4% in Q3 March 2013 from 22.6% in Q2 December 2012.
Commenting on the Q3 results, Anant Gupta, President and CEO, HCL Technologies said, "We have delivered yet another quarter of strong performance. Our net margins have improved for six straight quarters and are up by 51.5% along with a robust 14.6% US dollar constant currency growth for the twelve month period ended 31 March 2013. Amidst a challenging and uncertain business environment, HCL continues on its growth trajectory fuelled by its Alternative Outsourcing (AO) approach led by two unique value propositions of Alternative ASM and Enterprise Function as a Service (EFaaS)".
Anil Chanana, Chief Financial Officer, HCL Technologies said, "During the 12 months period ended 31 March 2013, our revenues have increased by 27% YoY (INR) while the earnings per share has grown 74% YoY (INR). This increase in EPS has been facilitated by expansion in both gross margin and operating margin by 340 bps and 420 bps YoY respectively. HCL's industry leading performance is also manifested in the strong free cash flow conversion at 60% of EBITDA and Return on Equity at 31%".
HCL Technologies' board of directors at a meeting held today, 17 April 2013, declared an interim dividend of Rs 2 per share for the year ending 30 June 2013.
HCL Technologies is one of the leading global IT services companies. The company offers an integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. It has a network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including financial services, manufacturing, consumer services, public services and healthcare.
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