HCL flags slow lane after surge in FY26

HCL Technologies Ltd closed the previous fiscal year (FY26) with its fastest revenue growth in three years, but flagged a slower outlook for the current fiscal year amid an uncertain demand environment.

- Jas Bardia

The country’s third-largest information technology (IT) services company clocked 5.95% year-on-year (yo-y) growth in consolidated revenue to $14.66 billion, beating a Bloomberg estimate of $14.11 billion by 45 analysts.

However, net profit fell 4.05% yo-y to $1.96 billion, compared to a rise of 7.6% in FY25.

Despite the encouraging revenue performance, the Noida-headquartered company appeared cautious about the current fiscal year, guiding for revenue growth of 1-4% in constant currency terms, broadly in line with its current constant currency growth of 3.9%.

Constant currency does not account for currency fluctuations.At a post-earnings press conference on Tuesday, chief executive C. Vijayakumar noted that the business environment remained fluid, making it difficult to form a definitive view of how the next 12 months would unfold.