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HCL Technologies settles with over 1 per cent loss post Q3 results

HCL Technologies shares erased early gains to end over 1 per cent lower in an overall sluggish stock market, although the IT major reported a 72.59 per cent jump in consolidated net profit for the quarter ended March 31.

BT Online Bureau | April 17, 2013 | Updated 17:51 IST

HCL Technologies shares erased early gains on Wednesday, ending over 1 per cent lower in an overall sluggish stock market, although the IT major reported a 72.59 per cent jump in consolidated net profit for the quarter ended March 31.

Analysts said profit-booking dragged down the stock. Besides, the overall equities market was volatile and closed on a weak note.

Despite surging 6 per cent to touch 52-week high of Rs 809 in the intra-day trade, the stock finally ended at Rs 751.15, down 1.51 per cent on the Bombay Stock Exchange. On the National Stock Exchange, the scrip lost 1.55 per cent to Rs 751.

HCL Technologies reported a consolidated net profit of Rs 1,039.9 crore for the third quarter ended March 31, driven by growth in infrastructure and enterprise application services.

Its revenues stood at Rs 6,424.6 crore during the reported quarter, up 23.2 per cent from Rs 5,215.6 crore in the same quarter last year.

Overall, the stock market was volatile where the BSE Sensex ended at 18,731.16, down 13.77 points.

with inputs from PTI

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