HCL Technologies gains 3 percent after Q4 result
Published On: Friday, April 22, 2022 | By: Team KnowMyStock
Shares of HCL Technologies Ltd jumped about 3% at ₹1,135 apiece in Friday's early deals on the BSE after the IT company reported a nearly 24% jump in its Q4 net profit at ₹3,593 crores compared to Rs 1,102 crore reported in the corresponding quarter a year ago. whereas revenue for the March quarter rose 15% from a year earlier to ₹22,597 crores as against Rs 19,642 crore reported in the year-ago period. On a sequential basis, revenues increased 1.2 percent in comparison with Rs 22,331 crore reported during the previous quarter. 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 percent year on year. It 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 percent”, said Prateek Aggarwal, Chief Financial Officer.
The research firm has maintained a buy rating on the stock but cut the target price to Rs 1,360.
Tags: HCL Tech Q4 result Profitincreases
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
