HCL Technologies fell 1.43% to Rs 1,143.85 at 9:47 IST on BSE after consolidated net profit rose 18.7% to Rs 1416 crore on 14% increase in revenue to Rs 7961 crore in Q1 September 2013 over Q4 June 2013.
The result was announced before trading hours today, 17 October 2013. The result is as per US Generally Accepted Accounting Principles (GAAP).
Shares of HCL Technologies had run up ahead of the result announcement. Profit booking emerged after the stock rose 5.91% in the preceding seven trading sessions to Rs 1,160.40 on Tuesday, 15 October 2013, from a recent low of Rs 1,095.65 on 4 October 2013.
Meanwhile, the BSE Sensex was almost flat at 20548.13.
On BSE, 45,000 shares were traded in the counter compared with average volume of 90,150 shares in the past one quarter.
The stock hit a high of Rs 1,169 and a low of Rs 1,101.55 so far during the day. The stock hit a record high of Rs 1,177 on 15 October 2013. The stock hit a 52-week low of Rs 578 on 17 October 2012.
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The stock had outperformed the market over the past one month till 15 October 2013, rising 10.97% compared with the Sensex's 4.13% rise. The scrip had also outperformed the market in past one quarter, gaining 32.77% as against Sensex's 2.56% rise.
The large-cap company has an equity capital of Rs 139.65 crore. Face value per share is Rs 2.
Earnings before interest taxes depreciation and amortization (EBITDA) rose 29.5% to Rs 2093 crore in Q1 September 2013 over Q4 June 2013.
EBITDA margin was reported at 26.3% in Q1 September 2013 compared with 23.1% in Q4 June 2013.
The company reported a foreign exchange loss of Rs 236 crore in Q1 September 2013 compared with a gain of Rs 29 crore in Q4 June 2013.
"Against the backdrop of encouraging macro economic trends, these results cement HCL's position as a company with a strong and differentiated business model. HCL remains well positioned in both existing and emerging momentum markets - with exceptionally strong customer relationships driving sustainable growth," said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies.
"Year-on-Year (YoY) growth of 42.8% in net income and 14.1% in revenues continues the 8 successive quarter of HCL's story of profitable growth. Our focus on Generation 2 propositions like Enterprise of the Future in TM ITO and ALT ASM in Application Services continues to drive the company's quality of revenue," said Anant Gupta, President and CEO, HCL Technologies. "HCL continues to strengthen its position in the momentum markets of the industry with Europe crossing a milestone run rate of $ 1.5 bn reflecting a very healthy 23.6% growth YoY," he added.
"With our layered hedging policy in place, we have been successful in delivering a Net Margin of 17.8% th for this quarter, this being the 8 straight quarter of Net Margin expansion. This was supported by healthy Free Cash Flow to EBITDA conversion of 75% (On LTM Basis). We maintain our focus on shareholder value creation, and our Return on Equity remained at a high of 34%," said Anil Chanana, CFO, HCL Technologies.
HCL Technologies is a leading global IT services company. It offers an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and business services.
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