HCL Technologies Q4 net profit up 53.7%

India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7 per cent jump in its consolidated net profit to Rs 1,834 crore for the fourth quarter ended June 30, 2014.

The company had posted a net profit of Rs 1,193 crore in the year-ago period, it said in a statement. Its consolidated revenues rose 20.7 per cent to Rs 8,424 crore in the April-June quarter as against Rs 6,980 crore in the same period last year. The firm follows July-June as the fiscal year.

Commenting on the performance, HCL TechnologiesBSE -2.54 % CEO Anant Gupta said: "HCL has posted a robust financial year performance, which emphatically demonstrates the continued success and relevance of our overall strategy."

In FY14, the company crossed the USD 5 billion revenue milestone and further evolved the key building blocks to deliver next generation propositions to customers, he added. Gupta further said that backed by the solid performance, HCL remains confident in its ability to continue delivering industry leading growth.

"The superior operating performance has been accompanied by efficient working capital management including DSO (days sales outstanding), high conversion of profits into cash and return on equity at historic high of 36 per cent," HCL Technologies CFO Anil Chanana said.

"These engagements were well distributed across all service lines and geographies. In verticals, the wins were led by Gen 2.0 propositions in momentum markets of financial services and manufacturing," it added.

Americas accounted for 57 per cent of the company's revenues, followed by Europe at 30.5 per cent and Rest of World (RoW) at 12.5 per cent. The company announced dividend of Rs 12 per share, its 46th consecutive quarter of dividend payout.

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