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HCLTech Q1 Results Review: Continues To Impress Despite Margin Hiccup, Says Motilal Oswal Maintaining 'Buy'
HCLTech remains the fastest-growing large-cap IT services company, adds Motilal Oswal
15 Jul 2025, 07:56 AM IST 
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HCLTech reported Q1 FY26 revenue of $3.5 billion, down 0.8% QoQ CC vs estimate of 1.2% QoQ CC decline. (Photo Source: HCLTech)
For Q1 FY26, HCLTech's revenue/Ebit grew 8.2%/3.0% and PAT declined 10% YoY in INR terms. The brokerage expects revenue/Ebit/PAT to grow by 9.4%/2.1%/5.3% YoY in Q2 FY26. HCLTech remains the fastest-growing large-cap IT services company, and we like its all-weather portfolio.
