HCL Tech revenues up by 14.6 percent YoY ; Net Income up by 14 percent: Stock down by 3 percent

Noida head quartered HCL Tech , a subsidiary of HCL enterprises came up with its results on Thursday. For the Q3 FY '16 the company has declared revenues at Rs. 10,698 crores , up 3.1 percent on QoQ basis;  while up by 15.4 percent on YoY basis. Management  has declared Net Income  at Rs. 1926 crores , up 0.3 percent on QoQ basis; and up by 14 percent on YoY basis.  Revenues have been declared at Rs. 40,913 crores for 12 month ended 31st March 2016. The growth in revenues is at 14.6 percent YoY. Net Income for similar period is declared at Rs. 7354 crores, up 0.7 percent on a YoY basis.

Further details were furnished by HCL Tech on the Americas business which grew at 14.4  percent YoY . This growth as highlighted by the management is the fastest growth in last four years. Europe for HCL Tech grew by 9.8 percent and RoW grew by a meagre 3.2 percent. Amongst the verticals, the Lifescience and Healthcare vertical proved to be the leader with a healthy 27.6 percent growth; followed by Telecommunication, Media, Publishing and Entertainment, which grew by 22.4 percent for HCL Tech .

Company has added 1 client with US$ 100 mn + ticket size during the year; 2 clients with US $ 50 mn; 7 clients with US $ 40 mn+ ; 22 clients for US$ 10 mn; and 27 clients for US $ 5 mn ticket size.

HCL Tech announced dividends of Rs. 6 per share in its 53rd consecutive quarter of dividend payout. The face value for the stock is Rs. 2 and record date for the dividends is May 6 as confirmed by the board of directors. The payment date shall be May 13. The stock is trading down by 3 percent on an intra day basis on Thursday , post its results' announcement as the results are below estimates.