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HCL Technologies was another major domestic IT player to report its September-quarter results, following TCS, which announced its earnings last week. HCL Tech's numbers came in line with analysts' consensus estimates. The tech major reported a sharp rise in deal bookings, led by the Guardian Life and European automotive deals. Despite concerns over advances in AI, the country's third-largest IT company increased its headcount during the quarter, taking its total employee count to an all-time high of 2.3 lakh. The company posted revenue of ₹35,620 crore, registering a 3 per cent sequential increase from ₹34,579 crore in the June quarter and an 11.51 per cent year-on-year rise from ₹31,942 crore in the corresponding quarter last year. In constant currency terms, revenue grew 2.3 per cent quarter-on-quarter and 2.6 per cent year-on-year. The company's Advanced AI revenue grew 28.4 per cent sequentially and 78 per cent year-on-year in constant currency terms. The higher growth in rupee-denominated revenue compared with constant currency revenue may have been supported by favourable currency movements. The company's Advanced AI business continued to record strong growth, with revenue reaching USD 219 million, up 78 per cent year-on-year (YoY) and 28.4 per cent quarter-on-quarter (QoQ) in constant currency terms. Chairperson Roshni Nadar Malhotra said the accelerating growth in Advanced AI revenue validated the company's business strategy. She added that investments across the AI stack and strategic partnerships positioned HCLTech to serve enterprises and governments globally. HCLTech's earnings performance also reflected an improvement in operating profitability. Earnings before interest and tax (EBIT) margin stood at 18.2 per cent in the September quarter, expanding 71 basis points year-on-year and 131 basis points sequentially. The company said the reported margin included an 84-basis-point impact from restructuring costs. The company's total deal bookings stood at USD 3.3 billion, up 27 per cent year-on-year, taking first-half bookings to a record high. In the first quarter of FY24, deal bookings stood at USD 2.41 billion. Chief Executive Officer and Managing Director C. Vijayakumar said the company secured new deal bookings worth USD 3.3 billion during the quarter, up 27 per cent year-on-year, taking first-half bookings to a record high. He added that the company's AI propositions were resonating with clients, supporting confidence in its growth trajectory. HCLTech raised its FY27 revenue growth guidance to 2.5–4 per cent in constant currency (CC) terms, from the earlier range of 1–4 per cent. The company also raised its services revenue growth guidance to 3–4 per cent year-on-year in constant currency terms and maintained its EBIT margin guidance at 17.5–18.5 per cent for the fiscal year. The technology major announced an interim dividend of ₹12 per share alongside its September-quarter results. The company said its Board of Directors had recommended an interim dividend of ₹12 per equity share, marking its 95th consecutive quarter of dividend payouts. The company also set Friday, October 16, as the record date to determine shareholders eligible for the dividend. The payout will be made on Monday, October 26, according to the company's earnings filing. Segment-wise, IT and Business Services Revenue grew 4.4 per cent year-on-year in constant currency terms, while Engineering and Research and Development (R&D) Services revenue increased 2.1 per cent. HCL Software revenue declined 11.2 per cent year-on-year in constant currency terms. By vertical, financial services revenue grew 7.1 per cent year-on-year in constant currency terms, while retail and consumer packaged goods (CPG) revenue rose 14 per cent. Manufacturing revenue grew 3.9 per cent, while technology and services revenue increased 5.9 per cent. During the quarter, the company added 6,450 employees on a net basis, marking its highest quarterly net addition in 16 quarters and taking its total headcount to a record 230,339 as of September 30. Headcount stood at 226,640 at the end of September 2025, slipped to 226,379 in December 2025 and rose to 227,181 in March 2026 before falling to 223,889 in June 2026. During the quarter, the number of clients contributing more than USD 50 million in revenue increased by eight to 62, while the company added 33 clients in the USD 10 million revenue category, its highest addition in that category. The top five clients contributed 11.4 per cent of the company's revenue during the quarter. Disclaimer: We advise investors to check with certified experts before making any investment decisions. Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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