HCL Technologies Ltd. announced on Monday an interim dividend of Rs 12 per equity share of Rs 2 each of the company.
The dividend will be paid to the shareholders of the company on Oct. 30, according to an exchange filing on Monday. The record date for the interim dividend is set for Oct. 22.
The third largest IT company recorded a sequential revenue growth of 2.9% for the second quarter ending September 2024. The company's revenue reached Rs 28,862 crore.
The IT firm reported a net profit of Rs 4,237.00 crore, denoting a 1% fall on a quarter-on-quarter basis as against Rs 4,259.00 crore for the first quarter of fiscal 2025.
HCL Technologies Management Comments
"This growth was well distributed across verticals, geographies, and offerings. Our pipeline is very strong, including data and AI, digital engineering, SAP migration and efficiency-led programmes," C Vijayakumar, chief executive officer and managing director at HCLTech, said.
"Our GenAI offerings like AI Force and AI Foundry are resonating very well with our clients and should be drivers of efficiency, growth, and innovation over the medium term."
TCS Dividend For Q2 FY25
Tata Consultancy Services Ltd. announced a second interim dividend of Rs 10 per equity share of Rs 1 each of the company.
The dividend will be paid to the shareholders of the company on Nov. 5, 2024, according to an exchange filing on Thursday. The record date for the interim dividend is set for Oct. 18. The company had previously announced its first interim dividend of Rs 10 per share.
Shares of HCL Technologies closed 0.88% higher at Rs 1855.90 apiece, compared to a 0.66% rise in the benchmark NSE Nifty.
The stock has risen 46.06% in the last 12 months and 26.59% year-to-date.
Out of 43 analysts tracking the company, 18 maintain a 'buy' rating, 17 recommend a 'hold' and eight suggest 'sell' according to Bloomberg data. The average 12-month analysts' consensus price target implies a downside of 5.2%.
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