HCL Tech: HCL Tech may move past muted Q2 growth on strong deal book

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To some extent, the slower growth owes to the weakness in HCL Tech’s products and platforms division, which contributed 11.7% to the topline in the September quarter, down from 13.1% in the previous quarter.

Synopsis

HCL Technologies continued to report lower than expected sequential revenue growth in constant currency (CC) in the September quarter for the second consecutive period. At 3.5%, the CC growth in the dollar-denominated revenue was also slower than the 4-8% growth reported by peers including Tata Consultancy Services (TCS), Infosys, and Wipro.

ET Intelligence Group: HCL Technologies continued to report lower than expected sequential revenue growth in constant currency (CC) in the September quarter for the second consecutive period. At 3.5%, the CC growth in the dollar-denominated revenue was also slower than the 4-8% growth reported by peers including Tata Consultancy Services (TCS), Infosys, and Wipro.

While the sharp increase in hiring and a strong deal pipeline hint at a sustained

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