Business News
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1) Revenues, in US dollars, were flat sequentially at $1,491 million as against expectation of 1 per cent growth. In constant currency, dollar revenues grew 2.7 per cent sequentially against estimates of at least 3.5 per cent growth.
2) HCL Tech had earlier this month warned that its operating margin will be in the range of 21 to 22 per cent. On Tuesday, the company reported an ebit margin of 21.3 per cent. Lower margins hurt profitability in the March quarter, with net profit at Rs 1,680 crore versus estimates of Rs 1,810 crore.
