HCL Technologies has slumped over 3% to Rs 121 on the back of weak Q3 results for the second day in a row. The stock opened at Rs 131, but soon slipped into red and touched a low of Rs 118. At 1320 hrs, around 2.13 lakh shares have so far changed hands at the counter on the BSE.
Yesterday the company reported 36.3 per cent year-on-year decline in net profit when compared to Rs 342.5 crore in the corresponding quarter last year. Consolidated revenue, at Rs 2,861.5 crore, was up 49.4 per cent year-on-year, from Rs 1,925.2 crore in the corresponding period of the previous year.
Foreign exchange losses of Rs 201.3 crore ate into the profits of HCL Technologies, which posted a consolidated net income of Rs 218.1 crore for the third quarter ended March 31, 2009.
The stock yesterday closed at Rs 125.05, down 9.65 per cent, on the Bombay Stock Exchange.
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