HCLTech likely to post marginal sequential growth in Q2

HCLTech is expected to post a marginal sequential growth in its July-September quarter earnings. According to an average of six brokerage firms, the company’s revenues are expected to increase 2% sequentially to Rs 28,605.7 crore. HCLTech will announce its results on Monday.

Phillip Capital has forecast a 0.5% quarter-on-quarter (QoQ) revenue growth, with IT services expected to grow by 1.3% QoQ, supported by a revival in the banking, financial services, and insurance (BFSI) sector. However, this growth is seen to be offset by a 0.8% impact due to the divestiture of the State Street business.