HCL Tech shares end flat (Eds: Updating with closing price)

New Delhi: Shares of HCL Technologies on Thursday closed flat in a volatile trade, a day after announcing its June quarter earnings. The stock had climbed over 1 per cent in morning trade after the company reported a 7.6 per cent year-on-year rise in its June quarter net profit on the back of new order wins. The IT major has also signed a definitive agreement to acquire a 100 per cent stake in ASAP Group, a German automotive engineering services provider, for 251.1 million euro (about Rs 2,300 crore).

The acquisition is likely to be completed by September 2023 in an all-cash deal through its UK subsidiary, subject to regulatory approvals, according to a BSE filing. The company's stock gained 1.31 per cent to Rs 1,124.70 on the BSE during the day. However, in a lacklustre trade, the stock ended marginally lower by 0.08 per cent at Rs 1,109.20 apiece. At the NSE, it climbed 1.24 per cent to Rs 1,124.40 per share in intra-day trade. Later, shares of the company ended at Rs 1,112, marginally higher by 0.13 per cent. In volume terms, 1.93 lakh shares of the company were traded on the BSE and 1.22 crore shares on the NSE during the day.

The company's consolidated net profit at Rs 3,534 crore in the April-June period was up from Rs 3,283 crore, in the same period a year back, according to a stock exchange filing on Wednesday. On a quarter-on-quarter basis, its net profit fell 11 per cent when compared to Rs 3,983 crore earnings in the January-March period.

The company's revenue at Rs 26,296 crore was down 1.2 per cent quarter-on-quarter but up 12.1 per cent year-on-year. On a constant currency, revenue was down 1.3 per cent quarter-on-quarter but up 6.3 per cent year-on-year. HCL said it won 18 large deals, 7 in services and 11 in software, during the June quarter. The firm projected a revenue growth of 6-8 per cent in constant currency terms and an EBIT (Earnings Before Interest and Taxes) margin of 18-19 per cent.