HCL Tech shares fall after company’s Q4 net slips 2.8%

HCL Technology shares fell 4 per cent on Monday after the company reported a 2.8 per cent decline in its consolidated net profit at Rs 1,783 crore for the fourth quarter ended June 30, 2015.

At 11.35 am, the shares of the company were down 4.64% at Rs 950.40. On NSE, the shares were down 4.78% at Rs 950.55.

Company’s consolidated revenues rose 16.1 per cent to Rs 9,777 crore in April-June as against Rs 8,424 crore in the same period last year as per US GAAP accounting.

The firm follows July-June as the fiscal year.

The company announced a dividend of Rs 5 per share, its 50th consecutive quarter of dividend payout.