Home / Markets / News / HCL Tech tanks 3% post Q4 nos but brokerages remain bullish; here's why

HCL Tech tanks 3% post Q4 nos but brokerages remain bullish; here's why

Following the March quarter results, most brokerages slashed their earnings expectations from HCL Tech

HCl Tech Q2 net income rises 4.4% to Rs 2,651 crore, EBIT up 17.9%

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Impacted by higher taxes and one-time bonus payment, the company on Friday reported a 6.1 per cent fall in its fourth-quarter net profit at Rs 2,962 crore

Saloni Goel New Delhi

4 min read Last Updated : Apr 26 2021 | 11:11 AM IST

Shares of HCL Technologies slipped over 3 per cent in Monday's intra-day session after the IT major's March quarter results for the financial year 2020-21 (FY21) missed Street estimates across the board.

Impacted by higher taxes and one-time bonus payment, the company on Friday reported a 6.1 per cent fall in its fourth-quarter net profit at Rs 2,962 crore. The profit was down 25.6 per cent on a sequential basis. The provision for tax nearly doubled sequentially in Q4 to Rs 1,191 crore.

The March quarter revenue, meanwhile, was at Rs 19,642 crore, up 1.8 per cent

Topics : HCL Technologies Q4 Results Markets Buzzing stocks Jefferies ICICI Securities

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