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The Economic Times

Veer Sharma

HCL Tech shares fall 3% after Q1 results. What Nomura, Motilal Oswal & other brokerages suggest now

HCL Tech Nomura Motilal Oswal HCLTECH JM Financial

Shares of IT services company HCL Tech slipped 3.1% to Rs 1,183 on the BSE on Tuesday despite reporting a 20% year-on-year (YoY) growth in consolidated net profit to Rs 4,624 crore for the first quarter. The figure stood at Rs 3,843 crore in the year-ago quarter.

Revenue from operations for the June quarter increased 13% YoY to Rs 34,579 crore, compared with Rs 30,349 crore in the corresponding quarter last year.

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