15 May 2017

HCL Technologies as bright spot

Results announcements included Agro Tech Foods which reported sales just 4.1% up and profits ahead by just 1.1% as demonetization effects came into play. Shemaroo Entertainment saw sales down by 4.1% and profits don by 16.4% as advertising revenues were cut back sharply due to the currency withdrawal. One bright spot was HCL Technologies which distinctly for its sector reported a robust 12.7% revenue growth and a 20.9% advance in profits. Earnings guidance from HCLT was also strong.

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