HCL Tech sees mark-to-market losses on weak rupee

MUMBAI, Sept 15 (Reuters) - HCL Technologies (HCLT.BO: Quote, Profile, Research) expects mark-to-market accounting losses due to the rupee's depreciation against the dollar, a senior official told reporters on the sidelines of an analysts' meet on Monday.

"We have an element of loss in this quarter due to mark-to-market accounting," said Anil Chanana, executive vice-president (finance).

The exact loss would depend upon the exchange rate at the end of the quarter, he said.

The company had $1.9 billion worth of hedging at the end of the June quarter, he added. (Reporting by Janaki Krishnan; Editing by Harish Nambiar)