India’s HCLTech beats first-quarter revenue estimates
HCLTech said record first-quarter deal bookings and stronger Advanced AI revenue helped offset softer discretionary spending.
- On Monday, HCL Technologies reported a 20.34% year-on-year rise in consolidated net profit to ₹4,626 crore for the April-June quarter, driven by strength in financial services and a weak rupee.
- Bolstered by record deal bookings of $2.4 billion—the company's highest in a first quarter—HCL Tech declared an interim dividend of ₹12 per equity share for FY27.
- HCL Tech announced a foray into the datacenter business with up to ₹3,500 crore investment, targeting 50MW capacity. CEO C. Vijayakumar said this will 'position us as a key enabler of India's sovereign AI ecosystem.'
- Shares of HCL Technologies fell over 3% on Tuesday despite the profit growth, opening at ₹1,211.80 and hitting an intraday low of ₹1,180.
- The firm maintained its FY27 revenue growth guidance of 1.0%- 4.0%, citing strong deal momentum, while Vijayakumar highlighted 62% year-over-year growth in the Advanced AI segment.
17 Articles
17 Articles
After 3,300 layoffs, HCLTech says it is investing Rs 3,500 crore in AI data centres
HCLTech is venturing into the data centre business as the AI boom continues, with plans to invest Rs 3,500 crore. This move comes after the company revealed that it had cut nearly 3,300 jobs in recent months.
India’s tech services giant HCL is getting into the AI datacenter business
Indian tech services giant and retro software house HCL has decided to get into the AI datacenter business. The company yesterday revealed its plan in an announcement [PDF] released alongside its Q1 results, which included news of three-percent year-over-year revenue growth to $3.65 billion and 20 percent growth in net income which reached $488 million. CEO C. Vijayakumar also pointed to 62 percent year-over-year revenue growth for a segment HCL…
HCLTech reports profit at Rs 4,624 cr in Q1, beats estimates
HCL Technologies beats expectations with Q1 net profit up 3% to Rs 4,624 crore, highest-ever $2.4 billion net new bookings, and announces Rs 3,500 crore investment in AI data centers for full-stack AI market entry.
HCL Tech forays into AI data centre; to make an investment of ₹3,500 crore; to float a subsidiary
The convergence of AI-led demand, supply constraints and push for digital sovereignty presented a compelling opportunity for the company to emerge as a full-stack AI technology solutions provider, says HCLTech, CEO & MD, C. Vijayakumar
Coverage Details
Bias Distribution
- 64% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
