HCLTech Q2 Results: Revenue up 11.5% but misses estimates, net profit up 21.2%

Bengaluru: HCL Technologies Ltd. has narrowly missed revenue estimates for the July-September quarter as clients hold back technology spending and AI upends the business model of India’s $315-billion IT services industry.

Consolidated revenue rose 11.5% to ₹35,620 crore ($3.72 billion) in the second quarter of the ongoing fiscal. Analysts, on average, expected revenue to come in at ₹35,686 crore, according to data compiled by LSEG.