HCL Technologies Ltd. key Products/Revenue Segments include Software Development Charges and Computer Hardware & Software for the year ending 31-Mar-2021.
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 sequentially and up 5.7 per cent on a year-on-year (YoY) basis. The Noida-based company expects FY22 revenue to grow in double digits in constant currency and expects an Ebit (earnings before interest and tax) margin between 19.0 per cent and 21 per cent.
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Earnings Today: HCL Tech, IB Realty, M&M Financial Services are among 16 firms slated to post their March quarter numbers today. Analysts expect HCL Tech s March quarter PAT to fall between 26-31% on account of one-time bonus impact although they eye a growth in the revenue, led by contribution from DWS Limited - a leading Australian IT, business and management consulting firm that HCL Tech acquired recently - demand in areas of digital foundation projects and improving traction in ER&D segment.
Future Retail, Future Enterprises: A BS report stated that lenders to Kishore Biyani s Future Group will withdraw the just-approved debt recast plan that offered easier repayment options, if the troubled retailer s Rs 24,713 crore asset sale to Reliance Industries Ltd (RIL) goes through in a reasonable time frame. READ HERE
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NEW DELHI: Nifty IT stocks were trading on a negative note at 02:30PM (IST) on Tuesday. While HCL Technologies (down 3.25 per cent), Larsen & Toubro Infotech (down 2.28 per cent), Mindtree (down 1.82 per cent), Tech Mahindra (down 1.71 per cent) and Coforge (down 1.66 per cent) were the top losers in the index. The Nifty IT index was trading 1.27 per cent down at 25903.7 around 02:30PM. Benchmark NSE Nifty50 index was down 60.70 points at 14298.75, while the BSE Sensex was down 216.44 points at 47732.98. Among the 50 stocks in the Nifty index, 24 were trading in the green, while 26 were in the red. Shares of PNB, Vodafone Idea, YES Bank, Tata Motors and SBI were among the most traded shares on the NSE.
Record breaking quarter for Indian IT services is a given all eyes are now on guidance
Record breaking quarter for Indian IT services is a given all eyes are now on guidance
HCL Tech (L), Infosys (C) and Tata Consultancy Services (TCS) are set to share their Q4 results in AprilIANS/BCCL/BI India
After a blockbuster third quarter, analysts are bullish on the performance Indian IT companies between January to March as well.
Tata Consultancy Services (TCS), HCL Technologies, Infosys and others are expected to report the best fourth quarter in the last five years.
After Accenture’s increase in guidance, analysts are watching Indian players to see how they change their revenue outlook for the future.As 2021 unfolded, India’s information technology (IT) services majors including Tata Consultancy Services (TCS), HCL Technologies, Infosys, Wipro and Tech Mahindra the top five players in the software and services industry reported the best quarter in a decade.