Optimism of management lifts HCL Technologies to 52-week high
Nidhi Jani / 27 Jul 2017
Management has guided FY18 revenue to grow between 10.5 per cent to 12.5 per cent in constant currency. Also, they expect operating margin (EBIT) range from 19.5% to 20.5% in FY18.
HCL Technologies Ltd. reported its results for the quarter ended June 30, 2017 on Thursday.
Total sales for this quarter, Q1FY18, came in at Rs. 12149 crore. This represents a 5.8 per cent sequential decline and 7.2 per cent YoY increase.
Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 2467 crore and the EBIT margin stood at 20.3 per cent.
In terms of the bottom-line, the company reported a PAT of Rs. 2210 crore which represents a sequential QoQ decline of 10.7 per cent and a YoY increase of 7.6 per cent.
Management has guided FY18 revenue to grow between 10.5 per cent to 12.5 per cent in constant currency. Also, they expect operating margin (EBIT) range from 19.5% to 20.5% in FY18.
Company has announced dividend of Rs. 2 per equity share for the face value of Rs. 2 each.
HCL Technologies is an innovative technology & outsourcing company that provides technical consulting, IT solutions & software development to global firms. It is having operations in 32 countries.
Today, the stock opened at Rs. 908 and created 52-week high of Rs. 926 on the BSE. At 10:28 am, the stock was trading at around Rs. 915.25 on the BSE.
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