Mega-Cap IT Heavyweight Declares Record Date for FY24 Interim Dividend
By Malvika Gurung
Investing.com — The IT heavyweight HCL Technologies (NS:) announced an interim dividend for the upcoming financial year 2023-24 at its board meeting held on Friday, March 17.
The company’s Board of Directors have scheduled two Board meetings in the next fiscal year on April 19 and April 20, 2023, for considering two agendas.
One of them would be the consideration of the IT giant’s audited financial result for the financial year ending on March 31, 2023. The other one would be for the payment of an interim dividend for FY24.
“The items relating to financial results and payment of Interim dividend shall be considered by the Board on April 20, 2023,” said HCL Tech in a stock exchange filing last week.
The IT major has set the record date for the determination of the shareholders entitled to the payment of the aforesaid interim dividend as April 28, 2023. This will be subject to the approval of the interim dividend by the Board of Directors, the Noida-based firm clarified.
HCL Tech posted an 18.8% YoY growth in consolidated net profit at Rs 4,096 crore for the December 2022 quarter, led by strong deal wins despite a weak global macroeconomic environment, while its net consolidated revenue rose 19.6% YoY to Rs 26,700 crore, both figures exceeding Bloomberg’s estimates.
However, the mega-cap company revised its revenue guidance from 14 to 13.5%, from the earlier 13.5% to 14.5% due to seasonal weakness expected in Q4 FY23.