HCL Technologies' Stock Seesaws Despite Strong Q1 Earnings Report

HCL Technologies' stock experienced a volatile trading session, initially rising nearly 5% before closing with only minor gains. The fluctuations came as the company reported a 20.4% increase in consolidated net profit for the June quarter and provided a revenue growth projection of 3-5% for FY25.

Shares of IT services company HCL Technologies saw significant fluctuations on Monday, ultimately ending flat after early gains were trimmed by profit-taking. The stock initially climbed nearly 5% in the morning trade following the company’s announcement of a 20.4% rise in consolidated net profit for the June-ended quarter, along with a revenue growth forecast of 3-5% for FY25.

Intra-day trading saw HCL Technologies' stock rally by 4.83% to reach Rs 1,635.85 on the BSE, before retreating to end at Rs 1,569.20, representing a modest 0.56% gain. A similar trend was observed on the NSE, where the stock closed at Rs 1,568, up 0.49%, after hitting an intra-day high of Rs 1,636.40.

HCL Technologies CEO and MD C Vijayakumar commented that the Q1 revenue and EBIT performance was slightly better than anticipated, citing seasonal softness, but reaffirmed the company’s full-year growth guidance. Despite the challenges, the company projects growth across all geographies and verticals, excluding financial services.