HCLTech profit falls 8.4% to Rs 3,986 crore

HCL Technologies on Friday posted an 8.4% drop in consolidated net profit at Rs 3,986 crore in the fourth quarter ended March. This was much below the Street estimates of Rs 4,123 crore.

The country’s third-largest IT services firm had posted a net profit of Rs 4,350 crore for the quarter ended December.

On a year-on-year basis, the company’s net profit was flat. It had recorded Rs 3,983-crore profit during the year-ago period.