HCLTech Q1 net profit up 8% to Rs 3,534 crore, misses estimates

HCLTech reported a 7.6% on-year rise in net profit for the fiscal first quarter, missing estimates due to project ramp downs mainly in its technology and telecom verticals even as it signed fewer deals in the three-month period amid overall macroeconomic uncertainty.

India’s third largest software company, however, maintained its revenue growth guidance of 6-8% as well as 18-19% operation margin for the fiscal year.