HCL Technologies shares jump over 4 pc after Q4 earnings

Shares of HCL Technologies on Thursday jumped over 4 per cent after the company posted 22.8 per cent rise in its consolidated net profit for the March quarter.

On BSE, the scrip advanced 4.38 per cent to Rs 542.40, while on NSE it rose 4.37 per cent to Rs 541.80.

Earlier in the day, the IT firm posted 22.8 per cent rise in consolidated net profit at Rs 3,154 crore for the March quarter driven by strong growth across verticals.

It had registered a net profit of Rs 2,568 crore in the January-March 2019 quarter, HCL said in a regulatory filing.

Its revenue grew 16.3 per cent to Rs 18,590 crore in the quarter under review, from Rs 15,990 crore in the corresponding quarter last year, as per US Generally Accepted Accounting Principles (GAAP).

For FY20, HCL Tech's consolidated net profit increased 9.3 per cent to Rs 11,062 crore, while revenue grew 17 per cent to Rs 70,678 crore from the previous financial year.

Like its peers, Infosys and Wipro, HCL Technologies has refrained from offering revenue guidance amid uncertainties on account of COVID-19 pandemic.