HCL Tech's Q4FY17 net profit rises by 28%; revises guidance

HCL Technologies on Thursday said it has witnessed nearly 28% growth in its consolidated net profit for the fourth quarter ended March 31, 2017. 

The company reported consolidated net profit of Rs 2,475.27 crore, a rise of 27.67% from Rs 1,938.66 crore in the corresponding period of the previous year. 

Consolidated total income was at Rs 13,183.04 crore, growing by 20.66% year-on-year (YoY) and 9.26% quarter-on-quarter (QoQ). 

In constant currency, revenue grew by 16.1% yoy and 3.8% qoq. 

EBITDA (operating profit) stood at Rs 2,416 crore marginally up by 0.3%. 

However, HCL Tech reduced revenue guidance in constant currency for FY18. 

The company said revenue will grow between 10.5% to 12.5% for FY18 compared to revenue guidance of 12 - 14% in FY17. 

In its meeting held on Thursday, HCL Tech has announced a buy back programme of Rs 3,500 crore and at the same time declared dividend of Rs 6 per share - a 57th consecutive quarter of dividend payout.

Share price of HCL Tech surged over Rs 11 or 1.42% on BSE, trading at Rs 854.25 per piece.