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HCL Q2 shines, powers up AI

Mint Mumbai

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October 15, 2025

HCL saw good sequential constant currency revenue growth in Q2FY26, led by IT and business services vertical.

- Harsha Jethmalani harshaj@htlive.com

HCL Technologies Ltd weathered the macroeconomic slowdown with better-than-estimated revenue growth and margin in the September quarter (Q2FY26).

Sequentially, constant currency (CC) revenue grew 2.4% and Ebit (earnings before interest and tax) margin expanded 110 basis points (bps) to 17.4%.

Revenue growth was driven by improved sequential performance of all segments, led by IT and business services and followed by engineering and R&D (ER&D) services.

Margin expanded on better software business profitability, absence of certain one-offs, benefits from project Ascend, and a weak rupee.

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