HCL technologies result updated on 3rd May 2018 for the Q4 FY 2018. The results were quite matching to the estimates from the analysts which were around Rs 2,248 crore as it was tracked by Bloomberg.
The revenue increased almost 2.9 percent compared to the Q3 FY 2018 which was Rs 12,808 crore and therefore Q4 FY 2018 recorded at Rs 13,179 crore.
But the increase in net profit was almost half compared to the revenue increase at 1.5 percent since Q3 FY 2018 had recorded net profit of Rs 2,194 crore and Q4 FY 2018 recorded at Rs 2,227 crore.
Sales in terms of percentage increased by 2.5 which was higher than the estimated.
HCL Technologies added 22 clients in the March quarter portfolio in various slabs.
Expectation / Future growth plans of the company :
• The company is expecting a growth in sales for the year 2018-2019 by 9.5 percent to 11.5 percent in a constant currency term.
• Chairman and chief strategy officer at HCL Tech, Shiv Nadar have given a statement that Going forward, it is “imperative for responsible leaders like HCL to be at the forefront of innovation, technology, solutions and people readiness”.
• India’s third largest IT firm, HCL technologies, therefore, plans of focusing on innovation and increasing sales.
Share price Update :
HCL recorded a low of almost 80rs (8%) compared to previous and was one of the top losers in the market and closed at 925rs that is (74.8rs) 7.48% which was still a huge decline even though the results were on a positive side but since it was not able to match the IT index the company faced a huge selling pressure and also due to the industry standard set by TCS on stronger side.