HCL Tech declares second interim dividend of ₹10 per share; key details of record, ex-dividend, payment dates
HCL Tech Q1 results: HCL Technologies has announced second interim dividend for the financial year FY24 on Wednesday. The company will pay a dividend of Rs.10 per equity share of Rs.2 each of the Company for the Financial Year 2023-24. The payment date of the said interim dividend shall be August 1, 2023.
The tech player has fixed July 20, 2023, as the record date for determining the entitlement of shareholders. The company paid first interim dividend of ₹18 per share in April month for the fiscal FY24. In the financial year FY23, the company paid a total dividend of 2,400% aggregating to ₹48 per share to its shareholders. "The record date of July 20, 2023 fixed for the payment of the aforesaid interim dividend has been confirmed by the Board of Directors.
The payment date of the said interim dividend shall be August 1, 2023," HCL Tech added. HCLTech, India's third-largest IT services firm, reported a 7.6 percent year-on-year growth in net profit for the first quarter of fiscal year 2024, which ended on June 30, 2023. However, sequentially, net profit declined by 11.2 percent due to reduced deals and verticals like Hi-tech and telecom.
The net profit for Q1FY24 was ₹3,534 crore, falling short of analyst estimates of ₹3,782 crore. Consolidated revenue for the quarter grew by 12 percent YoY, reaching ₹26,296 crore compared to ₹23,464 crore in Q1FY23. HCLTech maintained its guidance of 6-8 percent constant currency revenue growth for FY24, with an operating margin of 18-19 percent. On July 12, HCL Technologies shares closed 0.74 percent lower at ₹1,106.50 apiece on the BSE.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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