HCL Tech Q3 Results: Records All-Time High Stock, 600% Dividend Yield Announced
HCL Tech Q3 Results
HCL Technologies, a leading IT enterprise, has announced its financial results for the third quarter of the fiscal year 2023-24. The company recorded a net profit of ₹4,350 crores with a robust quarterly growth of 15.3% and an annual growth of 6.2%. Additionally, HCL Tech has declared a solid dividend of 600%, marking its 84th consecutive quarter of dividend announcements. Prior to the results announcement, the company’s stock closed at ₹1,540, showing a rapid increase of 3.7%, reaching a new all-time high of ₹1,555 intraday.
As per information available on the BSE website, HCL Tech’s net profit in Q3 stood at ₹4,350 crores, surpassing the figures from the previous quarter (₹3,833 crores in September) and the same quarter last year (₹4,096 crores). The revenue for the quarter reached ₹28,446 crores, exceeding both the September quarter (₹26,672 crores) and the same quarter last year (₹26,700 crores). The Earnings Per Share (EPS) for Q3 was ₹16.06, higher than the figures from the previous quarter (₹14.15 per share in September) and the same quarter last year (₹15.13 per share).
In Q3, HCL Tech’s gross profit was ₹10,448 crores, with EBITDA and EBIT standing at ₹6,758 crores and ₹5,615 crores, respectively. The EBITDA margin for December quarter reached a record 23.8%, surpassing the figures from the September quarter (22.3%) and the same quarter last year (23.9%). Notably, the net profit margin for Q3 remained at 15.3%, maintaining consistency with the previous quarter (14.4%) and the same quarter last year (15.3%).
Dividend Announcement:
HCL Technologies has announced a dividend of ₹12 per share at a face value of ₹2, resulting in a remarkable dividend yield of 600%. This announcement signifies the completion of the 84th consecutive quarter where the company has declared dividends. The record date for the dividend is January 20, with the payment scheduled to be completed by January 31. This interim dividend reflects the company’s commitment to providing returns to its shareholders.
HCL Tech Q3 Stock Reaches All-Time High:
The stock is currently trading at an all-time high, reaching ₹1,555 in the last trading session, closing with strength at ₹1,541, a 3.8% increase. Over the past month, the stock has shown a 12% improvement, a 25% increase over three months, and a substantial 45% growth over the last year, showcasing its strong performance in the market.
