 "HCL Technologies dips 2% as company reports lower-than-expected Q1 results")
Shares of HCL Technologies were down 2.5 per cent at Rs 975 on the BSE in intra-day trade on Tuesday after the company’s Q1 revenue growth misses Street estimates. Its revenues increased 0.7 per cent sequentially in constant currency (CC) terms for the quarter ended June 2021 (Q1FY21). Analysts had expected revenue growth between 2 per cent and 2.5 per cent for the quarter.
Excluding the impact of a one-time bonus in the March quarter (Q4FY21), EBIT (earnings before interest and tax) margin was down 80 basis points (bps) quarter-on-quarter (QoQ) due to Covid-related expenses of 90 bps. However, the management
