Gold Silver Reports (GSR) – HCL Technologies Share Q4 Profit Meets Estimates – Sales in dollar terms rose 2.5 percent to $2,038 million, also higher than the $1,988 million estimate. Earnings before interest and tax rose 2.9 percent to Rs 2,583 crore, while Ebit margins remained unchanged at 19.6 percent.
Net profit stood at Rs 2,227 crore, a growth of 1.5 percent compared to the December quarter, according to the exchange filing. That’s in-line with the Rs 2,248 crore profit estimated.
HCL Tech, India’s third largest IT company by market capitalisation, expects sales to grow between 9.5 percent to 11.5 percent percent in constant currency terms in the financial year 2018-19. Guidance for margins stood at 19.5 percent to 20.5 percent percent for the same period.
Share price of the company has risen 18.5 percent this year, so far, compared to a 20.3 percent rise in the BSE IT Index. The S&P BSE Sensex Index has risen 20.3 percent in the same period. – Neal Bhai Reports