HCL Tech slips after Q4 results

HCL Technologies fell 0.16% to Rs 840.95 at 10:27 IST on BSE after consolidated net income rose 12.3% to Rs 2325 crore on 2% increase in revenue to Rs 12053 crore in Q4 March 2017 over Q3 December 2016.

Meanwhile, the S&P BSE Sensex was up 73.33 points, or 0.24% to 30,321.50.

On the BSE, 1.02 lakh shares were traded in the counter so far, compared with average daily volumes of 2.20 lakh shares in the past one quarter. The stock had hit a high of Rs 858.20 and a low of Rs 840 so far during the day. The stock hit a 52-week high of Rs 889.65 on 31 March 2017. The stock hit a 52-week low of Rs 706.50 on 11 May 2016.

The stock had underperformed the market over the past one month till 10 May 2017, rising 1.04% compared with 1.54% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 2.79% as against Sensex's 6.77% rise.

The large-cap IT company has equity capital of Rs 285.39 crore. Face value per share is Rs 2.

On a consolidated basis, HCL Technologies' net income rose 15% to Rs 8457 crore on 14.2% increase in revenue to Rs 46723 crore in the year ended March 2017 over the year ended December 2016.

In its guidance, HCL Technologies said that in the financial year ending March 2018 (FY18), its revenues are expected to grow between 10.5% to 12.5% in constant currency. The above constant currency guidance translates to 9.9% to 11.9% in USD terms based on 31 March 2017 rates.

Operating margin (EBIT) in FY18 is expected in range from 19.5% to 20.5%. The operating margin guidance assumes USD-INR currency rate of $1=Rs 65.50 and other currencies at FY17 average exchange rates.

HCL Technologies is a global IT services company.

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