HCL Tech declines after reporting muted March quarter results

HCL Technologies lost 2.72% to Rs 814.90 at 9:26 IST on BSE after consolidated net profit rose 0.3% to Rs 1926 crore on 3.4% growth in revenue to Rs 10698 crore in the quarter ended 31 March 2016 over the quarter ended 31 December 2015.

The result was announced before market hours today, 28 April 2016.

Meanwhile, the S&P BSE Sensex was up 1.78 points or 0.01% at 26,065.90.

On BSE, so far 78,000 shares were traded in the counter as against average daily volume of 94,000 shares in the past two weeks. The stock hit a high of Rs 819.95 and a low of Rs 799 so far during the day. The stock had hit a 52-week low of Rs 785.85 on 12 February 2016. The stock had hit a 52-week high of Rs 1,047.50 on 29 May 2015.

The large-cap company has equity capital of Rs 282.11 crore. Face value per share is Rs 2.

HCL Technologies' (HCL Tech) revenue in constant currency terms rose 1.7% on sequential basis in the quarter ended 31 March 2016. In dollar terms, HCL Tech's net profit declined 2% to $285 million on 1.3% growth in revenue to $1,587 million in the quarter ended 31 March 2016 over the quarter ended 31 December 2015.

HCL Tech has changed its accounting year to the period from 1 April to 31 March from earlier 1 July to 30 June.

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.

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