HCL Technologies falls 5% as Q4 profit misses estimates

The stock dipped 5% to Rs 1,002 on the BSE in early morning trade

HCL Technologies dipped 5% to Rs 1,002 on the BSE in early morning trade after the IT company reported a lower than expected 1.5% quarter on quarter rise in its net profit at Rs 22.27 billion in March quarter (Q4FY18). Revenue grew 2.9% at Rs 131.79 billion over the previous quarter.

Analysts on an average had expected profit of Rs 22.88 billion on revenue of Rs 132.19 billion for the quarter.

HCL Technologies said it expected revenue in the current year (FY19) to rise 9.5%-11.5% in constant currency (CC) terms. The constant currency guidance translates to 10.5% to