Shares of HCl Technologies today dropped 5 per cent after the company posted a 9.8 per cent decline in consolidated net profit for the March 2018 quarter.
The stock of the IT services firm fell 4.79 per cent to end at Rs 1,001.05 on BSE. During the day, it lost 5.15 per cent to Rs 997.20.
At NSE, shares of the company declined 4.96 per cent to close at Rs 1,000.50.
led by the fall in the stock, the company’s market valuation plunged Rs 7,009.18 crore to Rs 1,39,370.82 crore.
On the equity volume front, 2.61 lakh shares of the company were traded on BSE and over 75 lakh shares changed hands on NSE during the day.
HCl Technologies today posted a 9.8 per cent decline in its consolidated net profit for the March 2018 quarter at Rs 2,230 crore and said it expects to see a “better deal pipeline” in FY19, driven by digital services.
The net profit is lower from Rs 2,474 crore reported in the year-ago period (as per Indian Accounting Standards) as there was a one-time benefit from tax reversal in the January-March 2017 quarter.