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HCL shares fall after company announces second-quarter earnings report

India’s fourth-largest software exporter reported that its net profit grew 0.8% quarter-to quarter to Rs 2,188 crore.

Software major HCL Technologies Ltd on Wednesday reported that its net profit grew 0.8% quarter-to-quarter to Rs 2,188 crore while it rose 8.6% year-on-year for the second-quarter, Mint reported. After the announcement, the company’s shares closed 1.25% lower on the Bombay Stock Exchange’s Sensex at Rs 903.15 per share.

The company’s earnings before interest and tax grew by 0.3% to Rs 2,451 crore, However, its margin shrunk 40 basis points to 19.7% compared to the previous quarter, according to Moneycontrol.

“This quarter marks the end of first half of the FY18 which has seen us deliver a strong broad–based growth across businesses,” the company’s Chief Executive Officer C Vijayakumar was quoted as saying by Mint. The company, which is fourth-largest software exporter in India, also reported strong client addition, having signed 15 deals during the July-September quarter.

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