Verizon deal saw HCLTech beat peers in Q3

During the October-December quarter earnings call of HCLTech, CFO Prateek Aggarwal termed the company’s quarterly performance as a “sixer”. The reason being that the country’s third largest IT firm’s revenue grew at 6% and net profit by 13.5% sequentially, which was in stark contrast to other domestic IT services firms who either grew in low single-digit or witnessed a decline.

HCLTech was in the same league as its peers during the first and the second quarter. Analysts say a combination of factors helped the firm to perform excellently in a quarter which is seen as weak for the industry.