HCL Tech Q2 net profit up 6.9 pc to Rs 2,711 cr, announces bonus shares

IT major HCL Technologies on Wednesday posted a 6.9 per cent rise in its consolidated net profit to Rs 2,711 crore for the September 2019 quarter, and raised its revenue growth forecast to 17 per cent for 2019-20.

The company, which had registered a net profit of Rs 2,534 crore in the year-ago period as per the Indian Accounting Standards (IndAS), has also announced a bonus share offer.

Its revenue from operations grew 18 per cent to Rs 17,527 crore in the quarter under review, from Rs 14,860 crore in the year-ago period.

The company has raised its revenue growth outlook to 15-17 per cent for 2019-20 from its previous forecast of 14-16 per cent topline growth in constant currency terms. HCL Technologies’ board has declared a dividend of Rs 2 per share. It has also announced a bonus share offer under which one bonus share will be given for every share held. The proposal is subject to approval of shareholders and regulatory nods.