HCL Tech expected to report better than its peers in Q3

India’s third largest information technology firm HCL Technologies, is expected to deliver better third quarter (Q3) results compared to its peers.

The growth is expected to be slightly better due to strong seasonality in the software segment. Commentary on the demand environment would be key to watch out for, said analysts.

It is expected to report a consolidated revenue of around ₹27,167 crore, which is a growth of around two per cent year-on-year (y-o-y) as compared with the corresponding quarter last year. Its net profit, however, is expected to report a decline of around 1.5 per cent y-o-y to around ₹4,029 crore against the same quarter last year.

• Also read: HCLTech expands footprint in Romania with new global delivery centre in Iasi

But, sequentially, both consolidated revenue and net profit are expected to be higher as compared to the second quarter of the current financial year.

The company had reported a consolidated revenue of ₹24,686 crore in the September quarter, while net profit was recorded at ₹3,489 crore.

Shares of HCL Technologies were trading at ₹1,528.35 apiece on the BSE at 11:18 am, up 2.87 per cent from the previous close.

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