HCL Tech Q2 PAT seen down 3.5% at Rs 1367.3cr: ICICIdirect

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ICICIdirect.com has come out with its October-December earnings estimates for the information & technology sector. The brokerage house expects HCL Technologies to report a 3.5 percent degrowth quarter-on-quarter (up 41.7 percent Y-o-Y) in net profit at Rs 1367.3 crore.

Revenues of HCL Technologies are expected to increase by 2.6 percent Q-o-Q (up 2.6 percent Y-o-Y) to Rs 8167.2 crore, according to ICICIdirect.com.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 3.3 percent Q-o-Q (up 42.8 percent Y-o-Y) to Rs 2023.4 crore.

ICICIdirect.com on HCL Technologies:

We expect USD, rupee revenues to grow 3.7 percent (USD 1,318 million), 2.6 percent (Rs 8,167 crore) Q-o-Q led by continued momentum in IMS (8.1 percent Q-o-Q) and demand uptick in core software business. EBIT margins could decline 161 bps Q-o-Q to 22.2 percent led by modest rupee appreciation and wage hike impact (120 bps). Investor interest: Rebid market activity and TCV of deals signed.

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