HCL Tech stock rises 7% on Q2 earnings

HCL Tech stock rises 7% on Q2 earnings Mumbai: Shares of HCL Technologies on Thursday gained 7 percent to touch a one-year high level after the software services major reported a 68.5 per cent jump in its net profit for the quarter ended December 31, 2012.

Boosted by the smart earnings, shares of the company opened higher and as the trade progressed it surged 6.91 percent to Rs 720.90 -- 52-week high level on the BSE.

At NSE, the stock zoomed 7 percent to touch a one-year high level of Rs 721.30.

"HCL Tech reported Q2 FY13 results were ahead of expectation," Prabhudas Lilladher said in a report.

HCL Technologies today reported a 68.5 percent jump in its net profit at Rs 964.7 crore for the quarter ended December 31, 2012, driven by growth in infrastructure and financial services.

The company's net profit stood at Rs 572.7 crore in the October-December quarter of 2011, HCL Technologies said in a statement. It follows July-June fiscal year.

HCL Tech's revenues stood at Rs 6,273.8 crore during the reported quarter, up 19.6 percent from Rs 5,245.2 crore in the same quarter of FY12.

PTI