Mumbai, October 12 (Daily Kiran) : HCL Technologies announced on Monday that its consolidated net profit for the second quarter of fiscal year 2027, covering July to September, rose by 21.2% year-on-year to ₹5,132 crore. This growth can be attributed to stable demand for services, significant contracts, and a rising interest in artificial intelligence (AI) solutions.
In its exchange filing, the company reported an 11% increase in net profit compared to the previous quarter’s ₹4,626 crore. HCL has also raised its lower revenue growth guidance for the fiscal year and declared an interim dividend of ₹12 per share.
The Noida-based IT services company recorded an operational revenue of ₹35,620 crore for the September quarter, marking a 3% increase from the June quarter’s ₹34,579 crore. Year-on-year, the company’s revenue saw an 11.5% increase.
Operational performance improved during the quarter, with the EBIT margin rising to 18.2%. This increase reflects enhanced operational efficiency and growth across various business sectors, resulting in a quarterly improvement of 131 basis points and a yearly improvement of 71 basis points.
A significant highlight of the quarter was the continued growth in AI-related business. HCL’s advanced AI revenue reached $219 million, representing a 28.4% increase from the previous quarter and a remarkable 78% increase compared to the same period last year.
Confidence in business demand led the company to revise its revenue growth estimate for fiscal year 2027 to a range of 2.5% to 4%, up from the previous estimate of 1% to 4%. However, HCL maintained its operational margin forecast for the entire fiscal year at 17.5% to 18.5%.
The company also demonstrated strong performance in securing new contracts, with net order bookings totaling $3.24 billion. This includes a significant AI contract worth $1.14 billion from Mercedes-Benz. Total new order bookings increased by 27% year-on-year, reaching nearly $3.3 billion, setting a record for the first half of the fiscal year.
C. Vijayakumar, HCL’s CEO and Managing Director, stated that the company achieved a robust quarterly performance, with growth observed across various regions and industries. Advanced AI solutions received positive feedback from clients.
“Our AI solutions are proving to be in line with customer needs, boosting confidence in the company’s growth prospects,” he noted.
Roshni Nadar Malhotra, Chairperson of HCL, emphasized that the rapid growth in advanced AI revenue validates the company’s strategy and investments across different levels of AI technology.
Nadar added, “The fast-growing advanced AI revenue confirms our business strategy. Through strategic partnerships and continuous investments across the AI technology spectrum, HCL is well-positioned to be a trusted technology partner for enterprises and governments globally.”
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