HCL Technologies trades flat post Q4 results
HCL Technologies was trading flat at Rs 842, declining nearly 2% from its early morning high on BSE, after the company guided revenue growth between 10.5% and 12.5% in constant currency (CC) for the financial year 2017-18 (FY18). The company had recorded revenue growth in CC at 13.7% in FY17, over the previous fiscal. In USD terms, guidance translates to 9.9% to 11.9% for FY18 based on March 31, 2017 rates, HCL Technologies said in press release. For FY17, it had posted revenue at $6,975 million; up 11.9% over FY16. Edelweiss Securities expected HCL Technologies FY18 revenue growth guidance at 13.0%- 15.0% in CC, aided by revenue from the IBM deals, Geometric and Butler Aerospace acquisitions (implying organic revenue growth of 8-10%). For the quarter ended March, 2017 (Q4FY17), the company reported revenue growth 3.8% on quarter-on-quarter (QoQ) basis in CC and 4.1% in $ terms. Commodity Trading Tips
The brokerage firm expected HCL Technologies to post revenue growth of 4.7% QoQ in USD terms and 5.0% in constant currency. Meanwhile, HCL Technologies, India’s fourth largest IT services firm, reported 12.3% QoQ growth in net profit to Rs 2,325 crore for Q4FY17. Revenues grew by 2% to Rs 12,053 crore on sequential basis. Analysts on an average had expected profit of Rs 2,104 crore on revenues of Rs 12,177 crore for the quarter. At 10:17 am; the stock was up 0.08% at Rs 843 on BSE as compared to 0.26% rise in the S&P BSE Sensex. A combined around 1.5 million shares changed hands on the counter on BSE and NSE so far. Nifty Trading Tips
The brokerage firm expected HCL Technologies to post revenue growth of 4.7% QoQ in USD terms and 5.0% in constant currency. Meanwhile, HCL Technologies, India’s fourth largest IT services firm, reported 12.3% QoQ growth in net profit to Rs 2,325 crore for Q4FY17. Revenues grew by 2% to Rs 12,053 crore on sequential basis. Analysts on an average had expected profit of Rs 2,104 crore on revenues of Rs 12,177 crore for the quarter. At 10:17 am; the stock was up 0.08% at Rs 843 on BSE as compared to 0.26% rise in the S&P BSE Sensex. A combined around 1.5 million shares changed hands on the counter on BSE and NSE so far. Nifty Trading Tips
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