HCL Technologies rose 2.99% to Rs 918.10 at 10:10 IST on BSE after the company announced Q1 results before market hours today, 27 July 2017.
Meanwhile, the S&P BSE Sensex was up 203.62 points, or 0.63% to 32,586.08.
More than usual volumes were witnessed on the counter. On the BSE, 1.78 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 926 in intraday trade, which is also a 52-weeek high for the stock. The stock had hit a low of Rs 902 so far during the day. The stock had hit a 52-week low of Rs 722 on 22 July 2016.
The stock had outperformed the market over the past one month till 26 July 2017, gaining 4.78% compared with the Sensex's 4% rise. The stock had also outperformed the market over the past one quarter, rising 11.35% as against the Sensex's 7.46% rise. The scrip had also outperformed the market over the past one year, gaining 19.72% as against the Sensex's 15.75% rise.
The large-cap IT company has equity capital of Rs 285.40 crore. Face value per share is Rs 2.
HCL Technologies' consolidated net profit fell 6.6% to Rs 2171 crore on 0.8% rise in revenue to Rs 12149 crore in Q1 June 2017 over Q4 March 2017.
The company in its guidance said that revenues are expected to grow between 10.5% to 12.5% in constant currency in the year ending 31 March 2018 (FY 2018).
Revenue guidance is based on FY 2017 average exchange rates. The constant currency guidance translates to 11.3% to 13.3% growth in revenue in dollar terms based on 30 June 2017 rates.
Operating margin (EBIT) for FY 2018 is expected in the range from 19.5% to 20.5%. The operating margin guidance assumes Dollar-Rupee currency rate of $1=Rs 65.5 and other currencies at FY 2017 average exchange rates.
HCL Technologies said that it has declared an interim dividend of Rs 2 per share for the year ending 31 March 2018 (FY 2018).
C. Vijayakumar, President & CEO, HCL Technologies, said that the company continues to propel forward on its Mode 1-2-3 growth strategy, delivering a revenue growth of 2.6% QoQ and 12.2% YoY in constant currency terms in Q1 June 2017. This quarter, it also expanded its EBIT margins from 20% to 20.1%, through continued superior execution in its core business, integration and assimilation of the acquired entities, as well as its IP investments.
HCL Technologies is a global IT services company.
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