Mumbai, Oct 12 (SocialNews.XYZ) HCL Technologies on Monday reported a 21.2 per cent year-on-year increase in consolidated net profit to Rs 5,132 crore for the September quarter (Q2 FY27), driven by steady growth in services, strong deal wins and accelerating demand for artificial intelligence-led solutions.
On sequential basis, the tech giant reported a 11 per cent rise from Rs 4,626 crore reported in the preceding quarter, according to its stock exchange filing.
The IT major also raised the lower end of its FY27 revenue growth guidance and declared an interim dividend of Rs 12 per share.
The Noida-headquartered IT services company posted revenue from operations of Rs 35,620 crore during the quarter, up 3 per cent sequentially from Rs 34,579 crore in the June quarter. On an annual basis, revenue grew 11.5 per cent.
The company's operating performance also improved during the quarter, with EBIT margin expanding to 18.2 per cent. Margins rose by 131 basis points quarter-on-quarter and 71 basis points year-on-year, supported by operational efficiencies and growth across business segments.
A key highlight of the quarter was the continued momentum in artificial intelligence-related business. HCLTech's advanced AI revenue stood at $219 million, registering growth of 28.4 per cent over the previous quarter and 78 per cent compared to the year-ago period.
Reflecting confidence in business demand, the company revised its FY27 revenue growth guidance to 2.5-4 per cent, compared with the earlier range of 1-4 per cent. It, however, retained its operating margin guidance of 17.5-18.5 per cent for the full year.
The company also reported robust deal bookings during the quarter. Net new deal wins came in at $3.24 billion, including a mega AI contract worth $1.14 billion from Mercedes-Benz. Total new bookings rose 27 per cent year-on-year to about $3.3 billion, taking first-half bookings to a record level.
Commenting on the performance, HCLTech Chief Executive Officer and Managing Director C Vijayakumar said the company delivered a strong quarter with growth across geographies and verticals, while advanced AI offerings continued to witness strong client traction.
"Our AI propositions are resonating well with our clients, giving us confidence in our growth trajectory,” he added.
HCLTech Chairperson Roshni Nadar Malhotra said the accelerating growth in advanced AI revenue validates the company's strategy and investments across the AI technology stack.
"The accelerating growth in Advanced AI revenue validates our business strategy. Through strategic partnerships and continued investments across the full AI stack, HCLTech is well-positioned to be a trusted technology partner for enterprises and governments globally,” Nadar noted.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz