HCLTech shares climb 3.5% after company’s profit jumps 11% in March quarter

HCLTech climbed 3.49 per cent in the intraday session to touch a high of Rs 1,073.85 on the BSE.

New Delhi | Updated: April 21, 2023 11:36 AM IST

2 min read

HCLTech said that it expects its revenue to grow between 6-8 per cent in constant currency terms in FY24, while the margin guidance is 18-19 per cent. (File image)

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IT major HCLTech’s shares jumped over 3 per cent on Friday, after the company posted above-than-expected Q4 results on Thursday. HCLTech climbed 3.49 per cent in the intraday session to touch a high of Rs 1,073.85 on the BSE. While, on the NSE, the stock jumped 3.51 per cent to Rs 1,074.

HCLTech was the biggest gainer in key indices during the early morning trade.

HCLTech reported a consolidated net profit of Rs 3,983 crore, down 3 per cent on a sequential basis. Meanwhile, the company’s revenue from operations during the fourth quarter was at Rs 26,606 crore, down 0.35 per cent, quarter-on-quarter.

The company’s total revenue in the last fiscal crossed the Rs 1 trillion mark, which was up 18 per cent.

HCLTech said that it expects its revenue to grow between 6-8 per cent in constant currency terms in FY24, while the margin guidance is 18-19 per cent.

The IT major declared an interim dividend of Rs 18 per share for FY24.

HCLTech results for the March quarter beat street estimates, after its peers, TCS, and Infosys posted weaker-than-expected quarterly results.

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Infosys’ weak performance followed by TCS snapped Sensex’s nine-day winning streak on Monday, as the index had plunged almost 0.90 per cent.

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