HCL Tech Q3 results: ₹12 per share interim dividend approved by the board. Verify the record date.

HCL Tech Q3 results:HCL Tech reported a 13.5% sequential increase in net profit of ₹4,350 crore in Q3 FY24 and announced an interim dividend of ₹12 per equity share for FY24.

HCL Tech Q3 results:

On Friday, January 12, the Board of Directors of HCL Tech announced an interim dividend of ₹12 per equity share of ₹2 each for FY 24. The Indian IT giant said that during the Oct.–Dec. quarter of the current fiscal year, its net profit increased 13.5% sequentially to ₹4,350 crore.

January 20, 2024, is the set record date for the intermediate dividend payment. On the other hand, the last payment is scheduled for January 31, 2022.

Updates on HCL Tech’s Q3 results

“For the Financial Year 2023–2024, the Board of Directors has declared an Interim Dividend of Rs. 12/-per equity share of Rs. 2/-each of the Company.” The Board of Directors has confirmed that the record date of January 20, 2024, has been set for the payment of the previously mentioned interim dividend. The business stated in its stock filing that the interim dividend would be paid on January 31, 2024.

Reaching ₹4,350 crore in Q3 FY24 from ₹3,832 crore in Q2FY24, the third-largest IT services firm in India announced a significant 13.5% growth in its consolidated net profit attributable to shareholders. In addition, the company’s quarterly sales showed a strong 6.65% QoQ rise, surpassing market estimates to reach ₹28,446 crore.

HCL Tech’s profit after tax (PAT) for the October–December quarter of the current fiscal year exceeded expectations, coming in at a healthy ₹4,350 crore, above the projected 11% increase. Consolidated revenue from operations increased 6.5% YoY to ₹26,700 crore in Q3FY23, while the company’s consolidated net profit increased 6.2% YoY from ₹4,096 crore in the same time the previous year.

HCL Tech’s sales increased by 4.3% annually and 6% sequentially in Constant Currency (CC) terms to $3,415 million. The operating margin increased by 140 basis points on a QoQ basis, to ₹5,615 crore, a significant 19.8% increase. Additionally, net income increased significantly, rising 7.4% YoY and 13.8% QoQ to reach ₹4,350 crore.

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