HCL Technologies stock hits fresh 52-week high on better-than-expected Q1 earnings

The HCL Technologies stock hit a fresh 52-week high after the IT firm reported a 6.1 per cent increase in consolidated net profit at Rs 2,171 crore for the first quarter ended on June 30, 2017.

The company had posted a net profit of Rs 2,047 crore in the year-ago period.

At 1227 hours, the stock was trading at 905 level, up 13.55 points or 1.42 per cent.

The stock hit an yearly high of 926 level in early trade.

Consolidated revenues grew 7.2 per cent to Rs 12,149 crore in April-June 2017 as against Rs 11,336 crore in the same quarter of 2016-17. In dollar terms, the company's net profit increased 10.3 per cent to USD 336.7 million in the reported quarter, while revenues grew 11.4 per cent to USD 1.88 billion.

The stock is up 9.72 percent or 80 points on an year-to-date basis. It rose 20.25 percent or 152.5 points from an year ago on the BSE.