HCL Announces Interim Dividend of Rs 18 per Equity Share; Check Record Date, Other Details

New Delhi: Board of Directors of IT services company HCL Technologies in a meeting held on Thursday approved Interim Dividend of Rs 18/per equity share of Company for FY 2023-24.

HCL has fixed May 9, 2023 as the record date to determine the eligibility of shareholders for the payment of said interim dividend.

"Board has declared Interim Dividend of Rs. 18/per equity share of Rs.2/- each of Company for FY 2023-24. Record date of April 28, 2023 fixed for payment of aforesaid interim dividend has been confirmed by Board. The payment date of said interim dividend shall be May 9, 2023," HCL said in a BSE filing. 

HCL Tech declared its results for the fourth quarter of the financial year ending March 2023. HCL Technologies on Thursday posted a 10.85 per cent increase in consolidated net profit to Rs 3,983 crore in the fourth quarter of the financial year ended March 2023.

In the same quarter a year before, the company reported a net profit of Rs 3,599 crore.

Despite recording its greatest profit in any quarter, HCL Technologies' earnings decreased on a quarter over quarter basis by around 3% from Rs 4,096 crore. The combined annual operating revenue exceeded Rs 1 lakh crore.

Although HCL Technologies' performance for the current fiscal was within the guideline range, it reduced the current fiscal's growth projections because of the macroeconomic environment. From Rs 22,597 crore in the March 2022 quarter, the company's operating revenue increased by roughly 18% to Rs 26,606 crore during the reporting period.

However, compared to the Rs 26,700 it recorded in the third quarter, its income somewhat decreased sequentially.

HCL Technologies' profit for the fiscal year that ended on March 31, 2023, climbed by 10% to Rs 14,845 crore from Rs 13,499 crore during the same time the previous year.

At the end of 2022–2023, the company's yearly sales climbed by 18.46% to Rs 1,01,456 crore from Rs 85,651 crore the previous year.