IT firm HCL Technologies (HCLT) today posted a 50% year-on-year jump in net profit to Rs 496.7 crore for the first quarter ended September 30, 2011.

The company’s net profit stood at Rs 331.1 crore in the July-September quarter of 2010, HCLT said in a statement.

HCLT follows a July-June fiscal year.

However, on a sequential basis, the company’s net profit dipped by 2.7% during the reporting quarter. Its net profit stood at Rs 510.5 crore in Q4, FY11.

HCLT’s revenues stood at Rs 4,651.3 crore during the reporting quarter, up 25.4% from Rs 3,708.1 crore in Q1, FY11.

“We have doubled our quarterly revenues in just three years to record a billion dollar quarter despite the tough economic environment,” HCLT Vice-Chairman and CEO Vineet Nayar said.

The board has declared an interim dividend of Rs 4 per equity share of Rs 2 face value, which includes a ‘one-time special milestone dividend’ of Rs 2 per equity share of the company.

Under the programme, all employees who are on the company’s rolls as of October 14, 2011, will receive a minimum amount equivalent to 5 shares and a maximum amount equivalent to 10 shares based on years of tenure at HCL. The amount they will receive will be based on the closing price of the company’s shares on the NSE on October 17. For more visit: Business Standard

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