HCL Technologies reported better than expected results in terms of revenue, EBIT as well as dollar revenue for the quarter ended March 31.
The company reported 20.8 percent year-on-year (YoY) growth in net profit to Rs 2325 crore for the quarter ended March 31. Rupee revenue grew by 2 percent on a quarter-on-quarter (QoQ) basis to Rs 12,053 crore and 12.7 percent on a YoY basis.
In an interview with CNBC-TV18, Urmil Shah, AVP-Research Analyst at IDBI Capital and Karan Taurani, Senior Analyst at Dolat Capital shared their readings and outlook in HCL Technologies' Q4 numbers.
Below are comments from analysts on the numbers:
Urmil Shah: The results are beat to our estimate; in fact EBIT is a significant beat. We were expecting EBIT to come off by 46 bps given that the consolidation of acquisitions has happened in Q4 which have relatively lower margins.
Karan Taurani: HCL Tech has been one of our top picks in the largecap IT space; in fact we have a reduce rating on both Tata Consultancy Services (TCS), Wipro and accumulate rating on Infosys. HCL Tech has been the only buy within the largecap IT space and we will maintain that stance on the stock.
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