HCLTech revenue growth guidance raised to 13.5-14.5%; Q2 profit up 7%

IT services major HCL Technologies on Wednesday raised its full-year revenue growth guidance to 13.5-14.5 per cent, from 12-14 per cent on a constant currency basis, citing strong order bookings and pipeline. This after it reported a consolidated net profit of Rs 3,489 crore for Q2FY23, an increase of 7.09 per cent year-on-year (YoY) on the back of new order wins.

The revenue of the IT firm grew 19.5 per cent to Rs 24,686 crore, against Rs 20,655 crore a year ago. Its services business grew 18.9 per cent YoY, led by strong demand for cloud, engineering, and digital services, the IT major said. The services revenue is expected to grow 16–17 per cent YoY in FY23, according to the company’s guidance.