HCL Tech revenue up 17%, beats peers

NEW DELHI: HCL Technologies to skip forecasting revenue guidance for the current fiscal year citing uncertainties due to the Covid-19 pandemic, but ended fiscal year 2020 with the fastest growth seen among the top five Indian IT services firms. The firm grew revenue by 16.7% to $9.94 billion (₹70,678 crore) in fiscal year 2020 as it saw clients in manufacturing and technology verticals spend more to tap its expertise and the firm saw improved sales of its products, including those that it acquired from IBM.

The company proposed a final dividend of ₹2 per share on double the number of shares post 1:1 bonus issue.