HCL Tech shares are trading higher on Friday, a day after the company reported a 10.85% increase in its fourth-quarter net income. The company’s stock rose 1.3% to Rs. 1051.50 during morning trading on the BSE.
Friday’s opening price for a share of company stock was Rs. 1066.50. Notably, the tech colossus outperformed its competitors during the March-ending quarter. In the March quarter of FY22, HCL Technologies’ net income increased by 10.85 percent year-over-year, from Rs. 3,593 crore to Rs. 3,983 crore.
The company’s quarterly profit after taxes (PAT) decreased by 2.8% from Rs. 4,096 crore in Q3 FY23. The company’s stock reached a 52-week peak of Rs. 1,156.80 per share on February 3, 2023. The company’s stock price has increased by 1.52 percent year-to-date. However, its stock price has declined 4.06 percent over the past year.