HCL Technologies has rallied 5% to Rs 707 in opening deals after reporting a better-than-expected 9% quarter-on-quarter (qoq) growth in consolidated net profit at Rs 965 crore for the second quarter ended December 31, 2012 (Q2).
Revenue rose by 3% sequentially to Rs 6,274 crore from Rs 6,091 crore during the recently concluded quarter. Analysts on an average were expecting net profit at Rs 841 crore and revenue of Rs 6,211 crore for the quarter.
“The growth in this quarter was driven by infrastructure and financial services, both growing in excess of 10% sequentially,” HCL Technologies said in a statement. Meanwhile, the board has declared an interim dividend of Rs 2 per equity share of face value of Rs 2 each of the company.
The stock opened at Rs 701 and hit a 52-week high of Rs 709 on the NSE. A combined around 673,663 shares have changed hands on the counter in opening deals on both the exchanges.
