Transformational initiatives push HCL net up

New Delhi, Aug 19: Banking on its transformational initiatives rolled out during last fiscal, IT company HCL Technologies Ltd today posted an increase of 60.11 per cent in its net profit at Rs 136.45 crore for the fourth quarter ended June 30, 2006, as against Rs 85.22 crore in Q4FY05.

The company's board recommended a final dividend of Rs 4 per share (200 per cent on an equity share of face value of Rs 2) for the year ended June 30, 2006.

The total income of the company rose up to Rs 813.18 crore for the quarter ended June 30, 2006, from Rs 424.09 crore during same period last year.

''HCL's 'Transformational Strategy' set in motion over the last 12 months has led to a significant positive momentum in our business which is reflected in our underlying business numbers,'' Chairman and CEO Shiv Nadar said.

HCL Technologies President Vineet Nayar said the company's Q4 revenue was at Rs 1,254 crore, up 12 per cent, as against Rs 928 crore during the same period last year.

''We are now in the process of rapidly scaling up our recruitment engine, deepening our talent base, and ensuring our front and back ends are strengthened to ensure we build on this momentum.'' On future trends, Mr Nadar said, ''We now have the leadership, strategy, and infrastructure to fuel future business growth.'' The IT major posted a net profit of Rs 690.67 crore for the year ended June 30, 2006, as against Rs 618.72 crore in FY05, while the total income was registered was Rs 4,680.87 crore for FY06, against Rs 3,471.23 crore in FY05.

UNI