Shillong, April 21: After HCL Technologies issued an interim dividend of Rs 18 per share, bringing the total payout for the financial year 2023–24 to Rs 48 per share, the HCL share price increased by 2.79% to Rs 1,066.45.
In comparison to the same quarter last year, the company’s net profit increased 11% year over year to Rs 3,983 crore, beating expert expectations.
In comparison to the same quarter last year, when the revenue was Rs 22,597 crore, it increased by 18% to Rs 26,606 crore. The interim dividend payment date has been set for May 9, 2023, and the record date has been established as April 28, 2023.
Stock market was expecting another letdown from HCL Tech after two significant misses by TCS and Infosys. Positively, the company shocked investors by reporting Q4 results that met expectations.
Although there was a slight drop in revenue, profits turned out a little better than anticipated because to an increase in other sources of income. Overall, unlike its top IT competitors, the outcome has not been shocking, and as a result, the market would be grateful.
Given its extensive service offerings and well-balanced portfolio across RTB and discretionary spends, HCL is well-positioned to weather the storm.
