Constant currency revenue growth at 0.7%
In the same tax period, the company’s consolidated EBIT stood at Rs.3931 crore and consolidated EBIT margin stood at 19.59%. These were estimated to be Rs 3,888 crore and 19.15% respectively. HCL TECH’s dollar revenue growth in the first quarter stood at 0.9% per cent against the estimate of 2% per cent. At the same time, constant currency revenue growth has been at 0.7% during this period. The company’s board has also approved a dividend of Rs.6 per share.
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First quarter results not up to expectations
The company’s Q1FY22 first quarter results have not been up to expectations. Analysts in the CNBC-TV18 poll had estimated its income at Rs 20,303 crore and profit at Rs 3,253 crore. On an annual basis, the company has seen a growth of 10% in profit and 12.5% in income. On the quarterly basis, the company has seen an increase of 8.5 percent in profit and 2.2 percent in income.
The company’s shares have increased by 6 percent so far in the year 2021.
If we look at the past performance of this stock, so far in the year 2021, this stock has increased by 6 percent on BSE. At the same time, the Sensex has seen an increase of 10 percent in the same period. Today on NSE, this stock has closed at Rs 1000.20 with a weakness of 4.80 points or 0.48 per cent.
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