HCL Tech jumps after Q1 results

HCL Technologies rose 3.79% to Rs 1,061 at 10:28 IST on BSE after consolidated net profit fell 12.54% to Rs 2,230 crore on a 2.73% increase in net sales to Rs 16,427 crore in Q1 June 2019 compared with Q4 March 2019.

The result was announced after trading hours yesterday, 7 August 2019.

Meanwhile, S&P BSE Sensex was up 167.95 points or 0.46% at 36,858.45.

On BSE, 45,000 shares were traded in HCL Technologies counter, compared to a 2-week average of 39,000 shares. The stock hit an intraday high of Rs 1,074 and an intraday low of Rs 1,027.85. It hit a 52-week high of Rs 1,190 on 30 April 2019 and a 52-week low of Rs 920.15 on 11 January 2019.

 

The firm's consolidated EBITDA also declined 5.4% to Rs 3,225 crore in Q1 June 2019 as against Q4 March 2019. The consolidated EBITDA margin grew to 23.2% in Q1 June 2019 from 22.4% in Q4 March 2019.

HCL Technologies expects revenues for the FY 2019-20 to grow between 14% to 16% in constant currency. The operating margin (EBIT) for the FY 2019-20 is expected to range from 18.5% to 19.5%.

HCL Technologies (HCL) is a global enterprise with technology, services and products offered through three business units: IT and business services (ITBS), engineering and R&D services and products & platforms.

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