HCL Tech Slides Over 2% Post June Quarter Results

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At 11:10 am, HCL Tech shares shed 0.6 per cent to Rs 974.15 on the BSE in a weak market

HCL Tech shares slid more than 2 per cent on the BSE in a weak market a day after the company reported its results for the quarter ended June 2021. HCL Tech reported a 9.9 per cent rise in consolidated net profit to Rs 3,214 crore for the first quarter ended June 2021. At 11:10 am, HCL Tech shares shed 0.6 per cent to Rs 974.15 on the BSE. The shares have touched an intra-day high of Rs 1008 and a low of Rs 972.40 thus far.

HCL Tech’s first-quarter total contract value of new deal wins rose 37 per cent to $1,664 million from a year earlier. In constant currency terms, the company’s revenue in the June 2021 quarter grew 11.7 per cent on a y-o-y basis.

The IT major said that it expected revenues to grow in double digits in constant currency in the ongoing fiscal, driven by a strong deal pipeline.

Meanwhile, the board of HCL Tech has declared an interim dividend of Rs 6 per share for the financial year FY22.

The BSE Sensex was trading at 52,069.50, lower by 492 points or 0.93 per cent and the NSE Nifty was at 15.591.90, down 158.25 points or 1 per cent at the time.



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