At 10:15 am, HCL Tech shares were trading lower by 2.4 per cent at Rs 932.55 on the BSEHCL Technologies shares declined more than 2 per cent in a strong market as the IT firm reported a 72 percent decline in profit in the January-March quarter of the financial year 2020-21.
HCL Technologies' earnings declined to Rs 1,102 crore in the March quarter from Rs 3,969 crore in the October-December quarter on the back of higher tax cost during the 4th quarter.
At 10:15 am, the shares of HCL Tech were the top losers on the BSE, trading lower by 2.4 percent at Rs 932.55.
The company's earnings from operations increased 5.7 per cent year-on-year at Rs 19,641 crore in the quarter, compared to Rs 18,587 crore in the corresponding period in 2015.
The company's earnings for the quarter stood at Rs 2,962 crore, registering a decline of 25.6 percent quarter-on-quarter and a fall of 6.1 per cent on a year-on-year basis.The BSE Sensex was trading at 48,559.55, higher by 688 points or 0.44 per cent and the NSE Nifty was at 14,531.55, up 189.45 points or 1.33 percent at the time.