What Do HCLTech's Q1 Result Numbers Say? Read Systematix Report

Systematix continues to view HCLTech's revenue growth positively, as it remains the fastest-growing among the top five players.

Systematix Institutional Equities

15 Jul 2025, 11:49 AM IST i

HCLTech reported Q1 FY26 QoQ revenue decline of 0.8% in CC and a 1.3% growth in USD, largely in line with our estimate of 0.9% growth in USD. (Photo: Surat Singh/NDTV Profit)

For Q1, HCLTech reported 0.8% QoQ revenue decline in constant currency, 1.3% growth in USD terms and a 0.3% growth in INR terms, with all geographies except Americas reporting growth. All sectors grew QoQ, albeit healthcare and telecom were weak. HCLTech recorded a new large deal value (TCV – total contract value) of $1.8 billion in 1Q. Management has upgraded the lower end of its revenue growth guidance from 2%- 5% to 3%-5% in CC te...