Expect strong growth from Q2: HCLTech CEO

Will continue to grow in the US, says C Vijayakumar

- ASHUTOSH MISHRA

C Vijayakumar, chief executive officer and managing director, HCLTech, had earlier said the firm's positioning as a "challenger" was what was helping it grow in the US and in BFSI (banking, financial services, and insurance) when larger peers were facing headwinds in the region.

This "challenger" positioning is perhaps working for the information-technology services giant as it announced its first-quarter FY25 results.

The company reported the US geography grew 8 per cent yearon-year (Y-o-Y) though the firm witnessed its BFSI vertical decline by 1.3 per cent due to the divestiture of its stake in State Street.

Growth in the US is important because it is the largest geography for the industry. This growth is also impressive as two of its largest players have seen it tapering.

Accenture reported revenue growth of 1 per cent in North America on a Y-o-Y basis for its recently announced third quarter.