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)
© Thomson Reuters 2009 All rights reserved
One Year Later
A year after militants laid siege to Mumbai, the country still remains very vulnerable. Full Article | Full Coverage
Liberhan Commission Report
The government published a long awaited report, recently leaked, accusing BJP leaders of a role in the 1992 destruction of the Babri mosque in Ayodhya. Full Article
