HCL Tech shares jump nearly 4% post Q4 results

MUMBAI: Shares of software services exporter HCL Technologies today climbed nearly 4 per cent after the company reported 41.6 per cent rise in consolidated net profit for the fourth quarter ended June 30, 2013.

Shares pof India's fourth largest software services exporter ended the day 3.52 per cent higher at Rs 937.75 on the BSE. During the day, the stock jumped 4.76 per cent to Rs 949 - its 52-week high.

On NSE, the scrip rose 3.74 per cent to Rs 939.50. "HCL Technologies reported PAT was ahead of estimate led by volume growth and forex gains," said Rikesh Parikh, VP - Equities, Motilal Oswal Securities Ltd.

HCL Technologies today reported 41.6 per cent rise in consolidated net profit at Rs 1,209.6 crore for the fourth quarter ended June 30, 2013.

The company had posted a net profit of Rs 854.1 crore in the year-ago period, it said in a BSE filing.

Its consolidated revenues rose by 17.3 per cent to Rs 6,944.2 crore in the April-June period as against Rs 5,919.1 during the same period last year.

The firm follows July-June as the fiscal year. For the full year ended June 30, 2013, its net profit was up 62.3 per cent at Rs 4,098.9 crore against Rs 2,526 crore in previous fiscal. While revenues rose by 22.4 per cent to Rs 25,733.7 crore against Rs 21,031.2 crore.