HCL Tech Surges 4% As Q1 Financials Beat Estimates

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This was the best performance seen from an IT company in this quarter which cheered investors of HCL Tech.

The company reported a net profit of Rs 2047 crores, which was way above estimates of around Rs 1,800 crores. Revenues at the company increased by 6 per cent, at Rs 11,336 crore on sequential basis.

HCL Tech Surges 4% As Q1 Financials Beat Estimates
Investors bought heavily into the stock, with the shares 4.4 per cent higher at Rs 846.

"Growth momentum is broad-based, encompassing all sectors and service lines, propelled by our robust 21 Century Enterprise strategy and robust business model", Anant Gupta, President & CEO, HCL Technologies said.

The guidance in constant currency terms was also impressive.

"The above constant currency guidance translates to 11.2 percent to 13.2 percent in US dollar terms based on June 30, 2016 rates," the company said in its filing.

The board of directors of the company have reported a dividend of Rs 6 per share.

GoodReturns.in

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