HCL Technologies Slips Nearly 2% Despite Strong Q4 Results

NEW DELHI: HCL Technologies slipped as much as 1.8 per cent in trade on Thursday, after India's fourth largest software services exporter reported 13 per cent QoQ growth in its net profit number to Rs 1,834 crore for the fourth quarter ended FY14, which was largely in line with ET Now estimates.

However, net profit on a year-on-year basis grew by 54 per cent.

At 09:20 a.m.; HCL Technologies recouped some of the intraday losses but was still trading 0.7 per cent lower at Rs 1585.10. It hit a low of Rs 1567.75 and a high of Rs 1597 in trade today.

Analysts polled by ET Now were anticipating a net profit of Rs 1611.90 crore for the quarter ended June 30. India's fourth largest software services exporter reported a net profit of Rs 1624 crore in the year ago period.

"HCL continues to demonstrate its ability to navigate the dynamic economic environment and grow profitably by delivering "relevant" and unique service experience to its customers fueled by the 'Relationships Beyond the Contract' philosophy," says said Shiv Nadar, Chairman and Chief Strategy Officer, HCL Technologies

The Board of Directors also declared a Special Dividend, of Rs. 12/- per equity share of Rs. 2/- each of the Company, for the Year 2014-15. The Payment date of the said interim dividend shall be August 14, 2014.