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HCL Tech shares plunge nearly 4% after Q2 earnings

Shares of HCL Technologies on Wednesday fell by nearly 4 per cent even as the company’s net profit rose 8.6 per cent in the quarter ended September 30, 2017.

The stock went down 3.3 per cent to Rs 883.30 on BSE. At NSE, shares of the company dipped 3.65 per cent to Rs 881.10.

HCL Technologies reported a net profit of Rs 2,188 crore for the quarter ended September 30, up 8.6 per cent over the year-ago period.

The company maintained its 2017-18 revenue growth forecast at 10.5-12.5 per cent in constant currency terms.

HCL Tech’s revenue stood at Rs 12,434 crore during the quarter under review, about 7.9 per cent higher than the same period previous year.

In dollar terms, the net profit came in at $339 million for July-September, up 0.7 per cent sequentially and 12.6 per cent year-on-year.

The dollar revenue at $1,928 million was 2.3 per cent higher sequentially and 11.9 per cent up over the year-ago period.

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