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Last Updated : Oct 16, 2020 09:52 AM IST | Source: Moneycontrol.com

HCL Technologies share price declined 2% post Q2 result

The company has signed 15 transformational deals in the quarter ended September 2020.

 
 
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HCL Technologies share price declined 2 percent in \ early trade after the company posted its September quarter results.

September quarter net profit came in at Rs 3,142 crore against Rs 2,925 crore in the quarter ended June 2020. According to CNBC-TV18 poll, the profit was expected at Rs 3,046 crore.

Rupee revenue rose 4.2 percent QoQ to Rs 18,594 crore against Rs 17,841 crore.

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The Earnings before interest and tax (EBIT) margin was at 21.6 percent (versus 20.5%, QoQ), which is a 5-year high.

The company has guided for Q3 & Q4 revenue. The constant currency revenue growth is seen at 1.5-2.5%, reported CNBC-TV18.

The FY21 EBIT margin guidance increased to 20-21% from 19.5-20.5%.

The dollar revenue growth stood at 6.4% at 2,507 million and the company posted constant currency revenue growth of 4.5 percent.

The company has signed 15 transformational deals in the quarter ended September 2020.

At 09:24 hrs, HCL Technologies was quoting at Rs 843.70, down Rs 16.30, or 1.90 percent on the BSE.
First Published on Oct 16, 2020 09:52 am
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