Dividend stock 2024: HCL Technologies Ltd. is expected to be in spotlight on October 22, Tuesday, as its stock will trade ex-dividend. The company had declared an interim dividend of ₹12 per equity share with a face value of ₹2, for the financial year 2024-25. This interim dividend, approved by the board on October 14, 2024, is scheduled for payment on October 30, 2024, to shareholders who were on record by the ex-dividend date, the company announced in an exchange filing.

HCL Tech share price closed in the red, down 0.79 per cent at ₹1842.50, on October 21, Monday, on BSE. The company enjoys a market capitalisation of ₹4,99,992.79 crore.

This announcement came alongside the release of HCL’s financial results for the quarter and half-year ending September 30, 2024. The company posted consolidated revenues of ₹56,919 crores for the six-month period, up from ₹52,968 crores during the same period in 2023, reflecting steady growth. Other income for the half-year also showed a notable increase, at ₹1,559 crores compared to ₹709 crores in the previous year.

On the expenses front, employee benefits accounted for ₹32,933 crores, an increase from ₹30,267 crores in the same period last year. Depreciation and amortization costs were ₹2,005 crores, while other expenses totalled ₹3,640 crore. Despite these higher costs, HCL Tech’s profit before tax stood at ₹11,394 crores for the half-year, compared to ₹9,824 crores in the previous year, as per the filing.

The company's net profit for the six months amounted to ₹8,496 crores, up from ₹7,364 crores in the previous year, showcasing HCL's robust performance in a competitive sector. HCL also recorded strong segment revenues, with IT and Business Services contributing ₹42,449 crore, and Engineering and R&D services generating ₹9,000 crore.

Vikasdhan - Grow your Dhan with Vikasdhan

Disclaimer -not an investment advice only for educational purpose. To read complete disclaimer click on the linkhttps://vikasdhan.com/disclaimer

Published on:22 Oct 2024, 08:26 AM IST