HCL technology Q1 outcomes: top 10 key takeaways

HCL technology
HCL technology

Offshore IT and software program development outsourcing employer HCL technology announced its quarterly (Q1) results on Monday earlier than marketplace hours – the standalone internet income dropped through 2.12 in line with cent zone-on-sector. in conjunction with the September area effects, the corporation additionally knowledgeable stock exchanges approximately the appointment of an extra director and announced an meantime dividend, which the corporation will pay in November.
in advance, HCL technologies had already warned of a “tepid” September zone as a result of unfavorable forex impact and a purchaser-unique problem. Following are top key takeaways from HCL Tech’s September 2015 numbers:

1. net profit: IT essential HCL technology pronounced a quarter-on-quarter drop in standalone internet income at Rs 1,404.63 crore for the primary area ended September 30, 2015. The corporation had published internet earnings of Rs 1,435.17 crore within the sequential area ended June 30, 2015 and Rs 1,682.56 crore inside the corresponding area ended September 30, 2014. The agency’s consolidated Q1 profit declined by 3.2 according to cent sequentially to Rs 1,726 crore from Rs 1,783 crore.

2. Dividend: HCL technologies knowledgeable that the Board of directors of the employer at its assembly held onOctober 19, 2015, has declared an meantime dividend of Rs 5 in line with fairness percentage of Rs 2 every of the corporation for the 12 months 2015-16. The charge date of the stated interim dividend will be November 02, 2015.

3. sales: For the quarter ended September 2015, the employer published standalone sales of Rs 4,349.seventy two crore, up 7.28 in step with cent towards Rs 4,054.forty crore inside the corresponding quarter a yr ago.

4. Appointment of additional director: HCL technology also knowledgeable that Thomas Sieber has been appointed as an additional Director at the Board of the agency with effect from October 17, 2015 to maintain workplace as an unbiased Director.

5. Headcount: HCL technology noticed an go out of 536 personnel for the duration of the September quarter, taking the total headcount to 1,05,571.

6. stock alternative Plan: The Board of directors additionally accredited the modification in 2004 inventory choice Plan (“ESOP Plan”) of the organisation to encompass the provisions for the implementation of the plan through a accept as true with mechanism, according with the Securities alternate Board of India (share based totally worker blessings)  buy hosting policies, 2014 (“SEBI guidelines”). This modification within the ESOP Plan is problem to the approval of the Shareholders.

7. Scheme of arrangement: The Board of directors of HCL Tech has authorised the Scheme of association (“Scheme”) among HCL technologies and HCL Comnet (a completely owned subsidiary of the organisation). As in step with the Scheme, the India machine Integration enterprise of the employer might be transferred to HCL Comnet confined on a going situation foundation with an objective to have simplified commercial enterprise shape with extra visibility in the overall performance of individual corporations. The stated Scheme is problem to requisite approvals.

8.different announcements: HCL technologies has been selected with the aid of a chief delivery company in united kingdom to offer managed offerings for its entire SAP landscape. The IT foremost also received 10 tranformational engagements in the course of this zone in excess of $1bn in TCV with the aid of booking led by using Infra & ERS.

9. overall Expenditure: general expenditure of the agency multiplied 23 in keeping with cent yr-on-year to Rs 2861.43 crore. The upward thrust in total expenditure figures can be attributed to employee advantage expense, outsourcing fee and journey and conveyance.

10. Innovation Labs: In a tweet the business enterprise stated, HCL technologies installation of six Innovation Labs in the course of the region for designing new era person-experience focused virtual solutions.

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