Stocks

HCL Tech pares early gains on profit-taking

PTI Mumbai | Updated on January 19, 2018 Published on January 19, 2016

Shares of HCL Technologies that rose by over 3 per cent in early trade pared the gains later on profit—taking as the company reported 0.2 per cent rise in consolidated net profit for the second quarter ended December 31, 2015.

The stock rose 3.17 per cent to Rs 870.15 on the BSE following the results. However, later it lost the ground and was trading at Rs 834.00, down 1.11 per cent.

At NSE, shares of the company rose 3.28 per cent to Rs 870 and later gave up all the early gains and were trading down by 0.9 per cent at Rs 834.05

India’s fourth—largest software services exporter HCL Technologies today reported 0.2 per cent rise in consolidated net profit at Rs 1,920 crore for the second quarter ended December 31, 2015.

HCL Technologies, which follows July—June fiscal year, had posted a net profit of Rs 1,915 crore in the year—ago period, it said in a BSE filing.

Consolidated revenues grew 11.4 per cent at Rs 10,341 crore in the October—December quarter as against Rs 9,283 crore in the same quarter of the 2014—15 fiscal.

Published on January 19, 2016
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