INSUBCONTINENT EXCLUSIVE:
IT major HCL Technologies is poised to report its financial results for the September quarter on Tuesday
There are expectations that headwinds from wage hikes and seasonal softness in product business will offset tailwinds from rupee
However, for the IT sector, July-September has been another quarter of currency volatility
During the three months to September, the BSE IT index outperformed the BSE Sensex by a big margin with a gain of 12 per cent against an
increase of 2.27 per cent registered by the benchmark index.
Brokerage firm Prabhudas Lilladher projected 6.50 per cent, 7.2 per cent and
1.1 per cent quarter-on-quarter rise in sales, EBITDA and adjusted profit after tax (PAT), respectively, in Q2 FY19
report 3.2 per cent QoQ cc (constant currency) growth (2.1 per cent organic and rest owing to Actian acquisition and revenue from new IP
Seasonal softness in products business will weigh on organic growth for HCL Tech
Cross-currency would be a headwind of around 150 basis points for Q2 FY19
and 11 per cent YoY in net profit of HCL Technologies
It projects 2.4 per cent QoQ and 9.1 per cent YoY growth in revenue in dollar terms
cent from the new IP deals and rest from consolidation of Actian Corp
Markets said in a report.
Market participants are tracking demand outlook for IMS, engineering solutions and the rebid space
Commentary on MA, capital allocation and utilisation of rupee depreciation are also key monitorables.
