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HCL Technologies saw a 10 percent fall in consolidated net profit at Rs 3,843 crore for Q1FY26, as against Rs 4,257 crore in the year-ago period.
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HCLTech has raised the lower band of its full-year revenue growth guidance by 100 basis points, setting it at 4.5-5 percent. Analysts interpret this revision as a sign of a weaker exit rate for Q4.
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HCLTech's revenue growth guidance has been revised to 4.5-5 percent, up from the 3.5-5 percent range set in the previous quarter.
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HCLTech CEO C Vijayakumar revealed that the company’s order books for the Americas and Europe markets have reached an all-time high.
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HCLTech's revenue growth is projected to be driven by the low base of Q1FY25 and the ramp-up of recent deals.
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Jefferies has a 'Hold' rating on HCLTech, while JPMorgan maintained a 'Neutral' stance, noting that cautious comments, signings, and guidance indicate ongoing challenges for the company.
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Axis Securities predicts margin contraction due to higher onsite expenses, while ICICI Securities expects the EBIT margin to remain flat sequentially due to staggered wage hikes and the normalisation of products and platforms margin.
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Revenue growth will be driven by the services business, which was boosted by the Verizon deal. In August 2023, HCL Tech signed a $2.1 billion deal with Verizon to provide managed network solutions to its global enterprise customers.
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Deal wins were robust across the board but the overall macroeconomic environment remains shaky in the major markets of the US and EU
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Q2 Earnings: While the IT sector has witnessed an uptick in order inflow over the past two months, the slowdown in project-based business is expected to hamper overall industry growth.
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Dollar revenues are expected to be around $3.27 billion in the April to June quarter, a 0.8 percent growth sequentially and a 7.8 percent growth year-on-year.
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Net Sales are expected to increase by 0.4 percent Q-o-Q (up 18.5 percent Y-o-Y) to Rs. 26,803 crore, according to KR Choksey.
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Total contract value seen flat in Q3 FY23 at ~$2 billion vs $2.38 billion in the previous quarter. The company sees deal wins continuing in North America, slowing down from Europe
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Net Sales are expected to increase by 4.4 percent Q-o-Q (up 18.6 percent Y-o-Y) to Rs. 24,501.7 crore, according to KR Choksey.
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Net Sales are expected to increase by 4.3 percent Q-o-Q (up 17.4 percent Y-o-Y) to Rs. 23,560 crore, according to Motilal Oswal.
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Kotak expects Infosys to maintain full year revenue growth guidance at 12-14 percent in constant currency terms and the EBIT margin band at 21-23 percent.
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Net Sales are expected to increase by 1.1. percent Q-o-Q (up 15 percent Y-o-Y) to Rs. 22,584.9 crore, according to Prabhudas Lilladher.
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Management commentary on large deals pipeline and deal closures would be important to gauge confidence on growth continuity and better predictability, says Emkay Global.
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Strong quarter expected for IT Services, product platform and ERD businesses but supply side headwinds persist
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Net Sales are expected to increase by 4.2 percent Q-o-Q (up 11.5 percent Y-o-Y) to Rs. 21,529.4 crore, according to ICICI Direct.
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Healthy deal flows are likely to drive revenue growth even though December is generally a lean month due to year-end holidays
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The pandemic both disrupted business for India’s IT companies and opened up new opportunities as the need for digitisation grew globally. Deals, clients and hiring were among the key trends that shaped their performance in the quarter ended September.
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Experts largely see HCL Technologies reporting constant currency revenue growth guidance at more than 12 percent for FY22 compared to FY21 on the back of expected deal wins, but operating margin forecast may remain unchanged.
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Although overall earnings growth is expected to be strong, analysts expect it to be driven by a handful of sectors.
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Net Sales are expected to increase by 4.9 percent Q-o-Q (up 13.2 percent Y-o-Y) to Rs. 21,049.8 crore, according to Prabhudas Lilladher.
