HCL Tech slips after Q4 results

HCL Technologies fell 3.46% to Rs 1,015 at 10:42 IST on BSE after consolidated net income rose 1.5% to Rs 2227 crore on 2.9% increase in revenue to Rs 13179 crore in Q4 March 2018 over Q3 December 2017.

The result was announced before trading hours today, 2 May 2018.

Meanwhile, the S&P BSE Sensex was up 20.62 points, or 0.06% to 35,180.98.

On the BSE, 1.20 lakh shares were traded in the counter so far compared with average daily volumes of 81,000 shares in the past two weeks. The stock had hit a high of Rs 1,060 and a low of Rs 1,001.55 so far during the day. The stock hit a 52-week high of Rs 1,106.60 on 23 April 2018. The stock hit a 52-week low of Rs 811 on 4 May 2017.

 

On a consolidated basis, net income rose 3.8% to Rs 8780 crore on 8.2% increase in revenue to Rs 50570 crore in the year ended March 2018 over the year ended March 2017.

HCL Technologies expects its FY 2019 revenues to grow between 9.5% to 11.5% in constant currency.

In FY 2019, operating margin (EBIT) is expected between 19.5% to 20.5%.

HCL Technologies is a next-generation global technology company.

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