Share prices of India's fourth largest IT firm, HCL Tech, plunged on Thursday after the company said that its revenue would be hit by currency fluctuations in the July-September quarter.

HCL shares were down nearly 10% or Rs 95 to trade at Rs 886 at the Bombay Stock Exchange (BSE).

"During this quarter, revenues to be reported in US dollar would have an adverse impact of 80 basis points on account of sharp depreciation of multiple currencies against US dollar," HCL Tech said in a statement to the BSE.

Growing expectations over interest rate hike by the US central bank this year has resulted in sharp appreciation of the greenback against its major counterparts.

"HCL Tech's revenue growth is likely to be 0 per cent to 1 per cent QoQ in reported US dollar terms for the July-September quarter of 2015. This is against the 3 per cent we had factored in earlier," Girish Pai of domestic brokerage Nirmal Bang Securities, told NDTV Profit.

HCL also warned that its earnings would be negatively impacted by some client-related issue. It sees $20 million revenue loss from differences with one of its major clients.

"In one of the multi-million custom application development project being executed for one of the customers...certain differences have arisen on with the customer," HCL Tech said.

Besides, the company cited "skewness in revenue growth due to transition timelines for complex engagements in infrastructure management services (IMS)," as another reason for revenue loss in the first quarter of its fiscal year that starts from July.

"We do not view the skewness in complex IMS contracts as an indicator of weak revenue growth in IMS on an annual basis as elongated transition of some contracts is a timing issue and would mean revenues would be recognized with a delay. We witnessed this in 2014 as well when weaker growth in 2Q was followed by strong growth in 3Q," Goldman Sachs said in a note