HCLTech , India's no. 3 software services provider, plunged 8% on Tuesday after reporting a smaller-than-expected quarterly revenue and as a slew of brokerages cut their ratings on the shares.

HCLTech outperformed analyst estimates on both fronts. A Bloomberg survey of 24 analysts expected HCLTech to report $3.5 billion in revenue and a similar survey of 22 analysts expected the company to report $537 million in net profit.

Indias third-largest IT services provider, saw its shares fall on Tuesday following third-quarter results that missed revenue forecasts. The company reported a 5.1% rise in

HCLTech , India's third-largest software company, posted a smaller-than-expected December-quarter revenue on Monday, with clients holding back discretionary tech spending amid macroeconomic uncertainties.