HCL Tech slides after flat Q3 results

HCL Technologies fell 0.14% to Rs 953.50 at 14:18 IST on BSE after consolidated net income rose 0.3% to Rs 2194 crore on 3% increase in revenue to Rs 12808 crore in Q3 December 2017 over Q2 September 2017.

The result was announced before trading hours today, 19 January 2018.

Meanwhile, the S&P BSE Sensex was up 104.40 points, or 0.30% to 35,364.69.

On the BSE, 90,000 shares were traded in the counter so far, compared with average daily volumes of 1.10 lakh shares in the past one quarter. The stock had hit a high of Rs 965 so far during the day, which is also 52-week high for the counter. The stock had hit a low of Rs 946 so far during the day. The stock hit a 52-week low of Rs 778.05 on 1 February 2017.

The stock had outperformed the market over the past 30 days till 18 January 2018, rising 9.65% compared with 4.39% rise in the Sensex. The scrip had underperformed the market in past one quarter, rising 3.60% as against Sensex's 8.86% rise. The scrip had also underperformed the market in past one year, rising 13.16% as against Sensex's 29.12% rise.

The large-cap company has equity capital of Rs 278.43 crore. Face value per share is Rs 2.

On a consolidated basis, HCL Technologies' earnings before interest & tax (EBIT) rose 2.4% to Rs 2510 crore in Q3 December 2017 over Q2 September 2017. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.5% to Rs 2964 crore in Q3 December 2017 over Q2 September 2017.

The company expects its year ending March 2018 (FY 2018) revenues to grow between 10.5% to 12.5% in constant currency. Operating margin (EBIT) in FY 2018 is expected between 19.5% to 20.5%.

HCL Technologies (HCL) is a leading global IT services company.

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