HCL Technologies rose 3.52% to Rs 828.80 at 10:33 IST on BSE after consolidated net profit rose 1.84% to Rs 2050.78 crore on 5.96% increase in total income from operations to Rs 11336.32 crore in Q1 June 2016 over Q4 March 2016.
The result was announced before trading hours today, 3 August 2016.Meanwhile, the S&P BSE Sensex was down 126.86 points, or 0.45%, to 27,854.85.
On BSE, so far 4.39 lakh shares were traded in the counter, compared with an average daily volume of 3.75 lakh shares in the past one quarter. The stock hit a high of Rs 869 and a low of Rs 827 so far during the day. The stock hit a 52-week high of Rs 997 on 19 August 2015. The stock hit a 52-week low of Rs 706.50 on 11 May 2016. The stock had outperformed the market over the past one month till 2 August 2016, rising 9.46% compared with 3.08% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 7.76% as against Sensex's 10% rise.
The large-cap IT company has an equity capital of Rs 282.17 crore. Face value per share is Rs 2.
In an investor release, HCL Tech said that its consolidated net profit as per US Generally Accepted Accounting Principles (GAAP) rose 6.3% to Rs 2047 crore on 6% increase in revenue to Rs 11336 crore in Q1 June 2016 over Q4 March 2016. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 6% to Rs 2521 crore in Q1 June 2016 over Q4 March 2016. EBITDA margin stood at 22.2% in Q1 June 2016, same as in Q4 March 2016.
The company has given a guidance of 12% to 14% growth in revenue in constant currency terms for the year ending 31 March 2017 (FY 2017). This is against revenue growth of 11.2% on year on year basis in constant currency terms achieved in Q1 June 2016. Revenue growth for trailing twelve months ended 30 June 2016 on year on year basis in constant currency terms stood at 10.7%. The constant currency guidance translates to 11.2% to 13.2% growth in revenue in US dollar terms for FY 2017 based on 30 June 2016 exchange rates.
In FY 2017, profit margin based on earnings before interest and tax is expected to be in the range of 19.5% to 20.5%.
HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses.
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