HCL Tech shares jump 3% after Q2 results

Shares of HCL Technologies Wednesday rose 3 per cent after the company said its consolidated net profit for the September quarter grew 16.1 per cent.

The scrip gained 3.02 per cent to close at Rs 981.55 on BSE. During the day, it jumped 3.90 per cent to Rs 990.

At NSE, shares of the company moved up 3 per cent to end at Rs 980.70.

In terms of equity volume, 2.08 lakh shares of the company were traded on BSE and over 42 lakh shares changed hands at NSE during the day.

HCL Tech Tuesday said its consolidated net profit for the September quarter grew 16.1 per cent to Rs 2,540 crore and exuded confidence about meeting its revenue forecast for the fiscal on the back of strong growth momentum.

The Noida-based company had registered a net profit of Rs 2,188 crore in the year-ago period. Its revenue grew 19.5 per cent to Rs 14,861 crore in the quarter under review from Rs 12,434 crore in the September 2017 quarter.

HCL Tech said it expects its revenues in 2018-19 to grow between 9.5-11.5 per cent in constant currency that translates into a dollar revenue growth of 8.2-10.2 per cent (based on September 30, 2018 forex rates).