HCL Q1 net profit falls 35 percent

New Delhi, Oct 20 (Calcutta Tube) HCL Technologies Wednesday reported a 35.2 percent fall in net profit at Rs.194.88 million for the first quarter ended Sep 30 as against Rs.300.75 million in the corresponding period last fiscal.

The total income of the company stood at Rs.1,540.34 million, compared to Rs.1,295 million from a year ago.

‘HCL is committed to ensuring a sustained growth momentum by investing in emerging technologies and business areas while at the same time continuing to profitably capitalise on the existing opportunities,’ said Shiv Nadar, chairman and chief strategy officer.

The company announced an interim dividend of Rs.1.50 per equity share of the face value of Rs.2 each. It also increased its headcount by adding over 5,661 people, taking the headcount to 70,218.

HCL also announced the appointment of Vineet Nayar as vice chairman of the company. He will take charge from Nov 1.

This promotion will be an addition to Vineet Nayar’s current duties as chief executive officer and whole time board member, the company said in a regulatory filing.

Shares of the company were trading at Rs 434.60, down 1.01 percent from the previous close.

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