HCL Tech shares down 4.5%; mcap dips Rs5,309 cr post Q3 result

Shares of HCL Technologies on Thursday plunged 4.5 per cent after the company's March quarter numbers failed to meet market expectations. The stock ended the day with a loss of 4.51 per cent at Rs 799.95 on BSE.

During the day, it slumped five per cent to Rs 795.75. On NSE, the scrip fell 4.49 per cent to Rs 799.90. Led by the decline in the stock, the company's market valuation tumbled Rs 5,309.24 crore to Rs 1,12,837.76 crore. On volume front, 0.68 million shares of the company changed hands at the BSE and over 8.9 million shares were traded at NSE during the day.

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• HCL Technologies hits two-month low post Q4 results
• HCL Technologies Q3 net profit rises 14% to Rs. 1,926 crore

The country's fourth-largest IT services firm HCL Technologies today reported a 14.4 per cent rise in net profit at Rs 1,926 crore for March quarter, helped by growth in lifesciences, public services and telecom.

The firm had posted a net profit of Rs 1,683 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement.

The Noida-based firm, which booked deals worth over $2 billion this quarter, saw revenue growing 15.4 per cent to Rs 10,698 crore, from Rs 9,267 crore in January-March of 2015.

The company follows the July-June fiscal, but will now move to April-March to comply with changes in the Companies Act, 2013.

However, HCL's net profit went up just 0.3 per cent from Rs 1,920 crore in the December 2015 quarter while revenue grew 3.4 per cent from Rs 10,341 crore.