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HCL Tech dips 13% amid weak Q3 results

Shares of HCL Technologies,on Wednesday,dipped 13.29 per cent on the Bombay Stock Exchange in the morning trade.

Written by Agencies | Mumbai | Published: April 22, 2009 10:44:05 am

Shares of HCL Technologies,on Wednesday,dipped 13.29 per cent on the Bombay Stock Exchange in the morning trade after the company reported a dismal performance in the third quarter.

Shares of HCL Technologies slipped 13.29 per cent to touch a low of Rs 120 on the BSE. It was later trading at Rs 130.60,down 5.64 per cent.

Similar movement was seen on the National Stock Exchange,where the stock slipped 8.43 per cent to touch a low of Rs 126.50. It was later quoting at Rs 130.35,down 5.65 per cent.

A total of over 10.96 lakh shares changed hands on both the bourses.

HCL Technologies today reported a 42 per cent decline in its net profit at Rs 152.57 crore for the third quarter ended March 31,2009,while it had a net profit of Rs 263.08 crore in the same quarter last fiscal.

The total income of the company also fell to Rs 1,048.90 crore in the quarter under review,against Rs 1,275.58 crore in the same quarter previous fiscal.

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