The Noida-based firm said its EBIT (operating earnings) is also expected to be negatively affected by 80 basis points. During this quarter, the US dollar continued to strengthen against almost all global currencies, HCL Technologies said in a statement.
Country's fourth largest software services firm HCL Technologies on Tuesday said its dollar revenue for the March quarter will see an "adverse impact" of 2.8 percent on strengthening of the greenback against global rivals.
The Noida-based firm said its EBIT (operating earnings) is also expected to be negatively affected by 80 basis points. During this quarter, the US dollar continued to strengthen against almost all global currencies, HCL Technologies said in a statement.
"Since the company's revenues are derived in multiple currencies and significant costs are incurred in Indian rupee, the revenue and EBIT for the quarter to be reported in dollar, would have adverse impact of about 280 bps and about 80 bps, respectively," it added. In spite of the adverse impact, the company said it is confident of achieving EBIT (earnings before interest and tax) in the range of 21-22 percent for the January-March quarter.
HCL Technologies expects to post foreign exchange loss of about USD 5.5 million, covering both cash flow hedges and mark-to-market of the foreign currency assets and liabilities.
"The net treasury income for the quarter is expected to be around USD 32 million, the same level as reported in the previous one," it said. The company had posted 27.3 percent rise in net profit at USD 307.2 million, while revenues grew 12.8 percent to USD 1.43 billion in October-December quarter compared with the same quarter previous year.
HCL Tech stock price
On March 31, 2015, HCL Technologies closed at Rs 979.65, up Rs 2.70, or 0.28 percent. The 52-week high of the share was Rs 1058.20 and the 52-week low was Rs 628.50.
The company's trailing 12-month (TTM) EPS was at Rs 47.96 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 20.43. The latest book value of the company is Rs 112.02 per share. At current value, the price-to-book value of the company is 8.75.
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