Shares of HCL Technologies
slipped 2.5% to Rs 891.50 on the NSE after Q2 FY18 numbers. The company’s consolidated revenue for the quarter came in at Rs 12,433 crore, registering 2.3% QoQ increase. This was primarily driven by 2.4% and 2% QoQ increase in revenues from software services and IT infrastructure services. PAT for the quarter remained stable at Rs 2,207 crore.
FY18 revenues are expected to grow between 10.5% to 12.5% in Constant Currency as per the company guidance. Further, It expects operating margin (EBIT) to be in the range of 19.5%-20.5% for FY18.
HCL Technologies' utilization for the quarter stands at 85.3% and employee attrition of IT services (LTM) stands at 18.6%. Board has declared an interim dividend of Rs 2 per equity share of Rs 2.
HCL Technologies Ltd is currently trading at Rs 888.75, down by Rs 24.7 or 2.7% from its previous closing of Rs 913.45 on the BSE. The scrip opened at Rs 900 and has touched a high and low of Rs 923.35 and Rs 888.55 respectively.
HCL Technologies is the fifth largest IT services company in India. In FY17, manufacturing vertical contributed ~33.5% of revenues, while financial services and lifesciences & healthcare contributed ~24.4% and ~12%, respectively. It derived ~61.6% of FY17 revenue from America, while Europe contributed ~29.5%.