Technology

HCL Tech, for 3QFY2018 the sales came in at US$1,988mn (v/s US$1,977mn expected and) v/s US$1,929mn in 2QFY2018, registering a qoq growth of 3.1%. In constant Currency (CC) terms, the company posted a qoq growth of 3.3%. On EBIT front, the company posted an EBIT of 19.6% (v/s 19.7% expected and) v/s 19.7% in 2QFY2018. Consequently, the PAT came in at `2,194cr (v/s `2,168cr expected and) v/s `2,188cr in 2QFY2018, growth of 0.3% qoq. In terms of guidance, the company expects FY2018 revenues to grow between 10.5-12.5% in Constant Currency. Operating Margin (EBIT) for FY’2018 expected from 19.5% to 20.5%. We maintain our accumulate rating,

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