HCL Tech Shares Fall 10% As Company Issues Revenue Warning

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Shares in HCL Tech slumped a huge 10 per cent as the company issued a tepid revenue guidance for the quarter ending Sept 30, 2015.

    HCL Tech Shares Fall 10% As Company Issues Revenue Warning
    HCL Technologies: Quotes, News
    BSE 958.15BSE Quote27.25 (-2.84%)
    NSE 957.15NSE Quote28.05 (-2.93%)
    Apart from this the company also said currency headwinds would impact margins. "During this quarter, revenues to be reported in US dollar would have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar," HCL Tech said in a statement to the Bombay Stock Exchange.

    The stock was quoting at Rs 890 on the National Stock Exchange, a fall of a huge Rs 90 over Wednesday's close.

    The company also sounded a warning on a major client."In one of the multi-million custom application development project being executed for one of the customers...certain differences have arisen on with the customer," the company said. It has reserved up to $20 million as a matter of prudence.


    Read more about: hcl tech
    Story first published: Thursday, October 1, 2015, 10:12 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more