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HCL Tech Net Profit Rises 4% Sequentially; Stock Gains Over 4%
HCL Technologies for the quarter ended March posted a sequential increase in profit of 3.9% at Rs. 3154 crore. This is at a time when the global trade has been disrupted due to novel coronavirus infection.
In US dollar terms the revenue at the firm however stood unchanged at $2,543 million. In rupee terms, top line surged 2.5% to Rs 18,590 crore. Earnings before interest and tax margin grew to 20.9 percent from 20.2 percent in the previous quarter.
Earlier the company indicated that its quarter financials shall be impacted due to coronavirus though the results do not reveal much of impact.
After the results, the stock of HCL Tech jumped close to 4.5% to Rs. 542.4 per share on the NSE.
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