IT giant HCL Tech result declared for its first quarter on Tuesday. The net profit increases by a mere 2.4% Year on Year to 3,283 cr which was 3,218 in a year-ago period. While the revenue jumps from 20,068 cr to 23,464 cr with an astounding rate of 16.9%.
In the Hcl tech result, the net profit may somewhat upset investors because it is down by 8.6% QoQ. from the March quarter. The net profit stood at Rs 3,823cr which was up 2.4% YoY. However, its revenue from operations saw a growth of 3.8% year on year.
The Ebitda margin and Ebit margin stood at 21.12% and 17% simultaneously at the end of this quarter. The only thing investors are happy with Hcl tech results is their dividend policy. They once again declared the interim dividend of RS 10 to the shareholders who put trust in the company and hold the shares in difficult times.
The IT industry faced the resignation of employees and HCL is no exception to it. The attrition rate stood at a slightly higher 23.4% compared to 21.9% in the March quarter. The Hcl tech result has disappointed investors so, its stock is falling with other IT stocks.