HCL Tech falls; says strong dollar to hurt Jan-March revenue

Reuters
Workers are seen at their workstations on the floor of an outsourcing centre in Bangalore, February 29, 2012. REUTERS/Vivek Prakash/Files

MUMBAI (Reuters) - Shares in HCL Technologies fell more than 4.1 percent on Wednesday, heading towards its steepest daily fall since October 2014, after the company said a stronger dollar would hurt its January-March revenue by 280 basis points. However, HCL Technologies said it was still confident of achieving an operating profit in the range of 21 to 22 percent for the quarter, according to an exchange filing on Tuesday. The company's rivals, Tata Consultancy Services, earlier guided for a negative cross-currency impact of 200 bps on revenue, while Wipro said it would impact IT-services revenue by 200-250 bps. (Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)