HCL Tech Q4 net dips 71 p.c. on forex loss

NEW DELHI/MUMBAI, INDIA: HCL Technologies said its consolidated net profit for April-June quarter fell 71 per cent on foreign exchange losses.

Net profit for the current quarter was Rs 1.41 billion from 4.87 billion rupees an year ago. The current quarter included foreign exchange loss of Rs 3 billion while the year-ago period had a forex gain of Rs 2.5 billion.

On a standalone basis, it posted a net loss of Rs 135.4 million , it said in a statement.

Revenue for the quarter rose 34.5 per cent to Rs 21.69 billion.

The firm got fresh orders worth $310 million in the quarter. For the full year ended June 30, it got new orders worth $1 billion.

Core margins for the quarter were 23.4 per cent compared with 21.6 per cent.

Shares of the firm closed up 3.13 per cent at Rs 207.30 in a firm Mumbai market.