HCL Tech Q1 Preview: Weak deals, client spending to dent profits by 5-7%

HCL Tech is set to report its financial performance for the April-June quarter of fiscal year 2024-25 on Friday, July 12. The Indian information technology (IT) major is expected to face decline in topline due to annual productivity benefits to clients on renewals and offshoring of a large contract, brokerages said.

According to analysts, HCL Tech is likely to report a revenue increase of 6-7 per cent year-on-year (Y-o-Y) between Rs 27,900 crore to Rs 28,034 crore. However, sequentially revenues could dip by 1-2 per cent. The company registered revenues of Rs 26,296 crore in Q1FY24 and Rs 28,499 crore in the March quarter of FY24.