HCL Tech Q1 net up 130.26 per cent

New Delhi, Oct 16: HCL Technologies Ltd today reported a net profit of Rs 205.83 crore for the first quarter ending September 30, 2006, up by 130.26 per cent as against Rs 89.39 crore during the corresponding quarter last year.

Total income of the company stood at Rs 922.52 crore during Q1FY07 where as the same was at Rs 455.86 crore in Q1FY06, company Chairman and CEO Shiv Nadar told reporters here.

The Board of Directors of the company has declared an interim dividend of 200 per cent on an equity share of face value of Rs 2 each at Rs 4 per share, he said.

The company Cheif also stated that during the quarter ended December 31, 2005, the Scheme of Amalgamation of all the wholly-owned subsidiaries of the parent company -- DSL Software Ltd, Shipara Technologies Ltd, HCL Technologies BPO Services Ltd, HCL Technologies (Mumbai) Ltd, Aquila Technologies Ltd and HCL Enterprise Solutions (India) Ltd -- with HCL Technologies Ltd, has been approved by the Delhi and Karnataka High Courts.

The effective date of amalgamation is April 1, 2005, he said.

On approval by the respective courts, the results of the transferor Companies have been included in the results of the company for the quarter ended December 31, 2005.

Accordingly, the results for the quarter ended September 30, 2006 include results of the transferor companies and are not comparable with those of the corresponding previous quarter.

The results for the previous year ended June 30, 2006 includes the results of transferor companies for the 15 months period ended June 30, 2006.

UNI