HCL Tech Slips Nearly 5 Percent On Disappointing Q4 2018 Results

By Staff
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares of HCL Technologies plunged nearly 5 percent on the Bombay Stock Exchange (BSE) after the IT major reported a lower than expected 1.5 percent quarter on quarter rise in its net profit at Rs 22.27 billion for the quarter ending as on March 31, 2018 (Q4 2018).

    HCL Tech Slips Nearly 5 Percent On Disappointing Q4 2018 Results
    HCL Technologies: Quotes, News
    BSE 1022.20BSE Quote33.2 (3.25%)
    NSE 1022.20NSE Quote33.45 (3.27%)
     

    The company reported total income for the fourth quarter of 2018 at Rs 13,480 crores as against Rs 13,183 crores in the fourth quarter of 2017, up by 2.25%.

    The profit before tax of the company showed a decline during the fourth quarter of 2018 and stood at Rs 2,230 crores, down by 9.86 percent as compared to Rs 2,474 crore during the fourth quarter of 2017.

    Weighed down by the disappointing fourth quarter performance the stocks of the company declined as much as 4.74 percent to touch an intra-day low of Rs 1001.55 apiece on the Bombay Stock Exchange.

    In a similar trend, shares of the firm were trading at 3.87 percent lower at Rs 1,012.00 apiece on the National Stock Exchange.

    Meanwhile, the broader benchmark BSE Sensex was trading at 35,194.70, up by 34.34 points, or 0.10 percent at 11:10 hours.

    Read more about: hcl technologies
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    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