INSUBCONTINENT EXCLUSIVE:
HCL Technologies shares jumped over 5 per cent on Thursday, a day after the IT major reported a net profit of Rs 2,230 crore in the
That meant a decline of 12.55 per cent from the company's net profit in the previous quarter
In a regulatory filing after market hours on Wednesday, the IT company said its revenue from operations stood at Rs 16,427 crore in the
quarter ended June 30, marking a fall of 2.73 percent on a sequential basis.On the Bombay Stock Exchange, HCL Tech shares opened higher at
Rs 1,029 apiece, and jumped as much as 5.06 per cent to Rs 1074.00 during the session
On the National Stock Exchange (NSE), HCL Technologies shares jumped 5.63 per cent to touch an intraday high of Rs 1,080.20.In dollar terms,
its revenue grew 3.8 per cent on a quarter-on-quarter basis to $2,364 million
In constant currency terms, HCL Tech said its revenue rose 4.2 per cent compared to the quarter ended March 31.HCL Tech shares traded with
high volumes and were the top percentage gainers on benchmark indexes Sensex and Nifty on Thursday.At 2:03 pm, HCL Tech shares traded 5.54
per cent higher at Rs 1,078.90 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.62 per cent.By then, 87,000 shares
had changed hands during the session, as against an average of 39,000 over the past two weeks, data from the BSE showed.The IT company
maintained its guidance for financial year 2019-20, with revenues expected to grow between 14 per cent and 16 per cent in constant currency
HCL Tech said it expects its operating margin (EBIT) to grow in the range of 18.5-19.5 per cent.The company's revenue from its IT and
business services operations increased 1.98 per cent to Rs 12,364 crore in the first quarter of the current financial year
Revenue from engineering and R-D services rose 4.66 per cent to Rs 2,783 crore, according to the regulatory filing.HCL Tech's board
declared an interim dividend of Rs 2 per share.The company said it completed a previously announced $1.8-billion acquisition of select IBM
products on June 30, 2019
The group had signed a definitive agreement to acquire business relating to select IBM software products for Rs 12,252 crore.The group has
paid Rs 5,608 crore ($812.5 million) till June 30, 2019, and the balance amount is payable in tranches till July 30, 2021, the company
said.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
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