HCL Technologies reports 10.7% growth in Q2 revenue, retains forecast amid U.S. macroeconomic uncertainty
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HCL | Credits: Getty Images
HCL Technologies reports 10.7% growth in Q2 revenue, retains forecast amid U.S. macroeconomic uncertainty
HCL Technologies reported a 10.7% increase in Q2 revenue, maintaining its FY26 growth forecast despite U.S. economic challenges. The company highlighted strong AI-driven demand and new bookings exceeding $2.5 billion. With a focus on innovation and talent upskilling, HCL aims to capitalise on growth opportunities, while its digital revenue surged 15% year-over-year.
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The U.S. is the largest geographical market for HCL by revenue, contributing 56.2% of its services revenue, which in turn accounts for more than 90% of the total revenues.
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HCL | Credits: Getty Images
HCL Technologies said on Monday that it continues to expect FY26 revenue to grow between 3 and 5% in constant currency, as it reported a 10.7% jump year-over-year in second-quarter revenue to ₹31,942 crore. The company also retained its FY26 EBIT guidance, which is expected to grow between 17% and 18%. The profit for the quarter remained flat compared to the same period last year at ₹4,235 crore.
“We continue to perform well despite the uncertain business environment and are investing in new technologies and capabilities to unlock growth opportunities. The upskilling of our global talent base remains a key priority and an enabler of innovation for our clients,” said Roshni Nadar Malhotra, chairperson, HCL Technologies, in a statement.
C Vijayakumar, the CEO and Managing Director of HCL Technologies, revealed that the new bookings have surpassed $2.5 billion for the first time, without relying on a mega-deal. “A standout quarter on every front — marked by strong execution, growing demand for our AI-powered solutions, and Advanced AI revenue exceeding $100 million this quarter,” he said in a statement.
Advanced AI refers to HCLTech IP-led AI solutions, AI engineering, agentic AI, and physical AI, among other services provided by HCL.
HCL Technologies’ services revenue was up 2.5% sequentially and up 5.5% year-on-year. It has also raised the services revenue growth guidance from 3% to 5% to between 4% and 5% in constant currency terms. The digital revenue was up 15% year-over-year in constant currency terms, and contributes 42% of the services revenue.
The U.S., which contributes 56.2% of the services revenue, grew 2.4% from the year-ago period. It is worth noting that IT exports to the U.S. are grappling with macroeconomic uncertainty caused by the reciprocal and sectoral tariffs imposed on India by the U.S., as well as the steep hike in H-1B visa fees announced by the Trump administration.
Its total count was 2,26,640 as of September 30—the highest since September 30 of last year—adding a net of 3,489 employees. The IT major also said that it added 5,196 freshers in the same period, and its attrition rate was 12.6%, the lowest since last year.
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HCL shares closed 0.09% lower on Monday, trading at ₹1494.10.
