HCL Tech Q2 profit up by 13 percent

HCL Technologies has reported a 13 percent increase in net profit at Rs 91.05
crore for Q2 ended Dec 31, 2003, against Rs 80.5 crore in the same period last
year. Gross revenues grew by 33 percent to Rs 622.32 crore for Q2 ended Dec 31,
2003 as compared to Rs 467.93 crore in the corresponding period last year.

Consolidated net income stood at Rs 351.34 crore, augmented by sale of stake
in HCL Perot Systems.

The company has declared an interim dividend of Rs 2 per share, during the
present quarter, for the quarter ended Dec 31 2003. Its customer base increased
to 438, with 37 new customers added during the quarter. The company also
recorded net addition of 1,062 employees during the quarter.

Commenting on the com-pany’s performance, Shiv Nadar, Chairman and CEO, HCL
Technologies said, "I am deligh-ted to report a quarter that has been one
of the most satisfying in recent times, coming as it does on the back of a
signi-ficant turn around in the business. It presages the onset of a clear trend
line of growth that will enable us to achieve our aim of accelerated top line
growth, improved operating margins and a return to predictability."

CyberMedia News Service

New Delhi