HCL Tech to announce Q1 result today; here’s what brokerages expect

HCL Technologies is slated to announce its June quarter results for the fiscal year 2020-21 (Q1FY21) on Friday, July 17. So far, most IT companies have posted better-than-expected numbers for the quarter under review that has resulted in a huge upside in their stock prices.

Here’s a look at what brokerages expect from HCL Tech’s Q1 nos

ICICI Securities

HCL Tech is expected to report 8 per cent quarter-on-quarter (QoQ) dip in dollar revenues to US$2339 million due to pressure in ER&D revenues, reduction in volume-based billing and lower product licence revenues. Rupee revenues are expected to decline 4.6 per cet QoQ to Rs 17,734 crore. EBIT margins are expected to decline 200 bps QoQ led by pricing pressure, dip in volumes, and lower revenues from high margin product business.