HCLTech Q2 profit rises 21% to ₹5,132 crore; FY27 growth guidance narrowed to 2.5–4%

Shares of HCL Technologies (HCLTech) rose in early trade on Tuesday, 13 October, after the IT services company reported a 21.2 per cent year-on-year rise in September-quarter net profit and tightened its revenue growth guidance for FY27 to 2.5–4 per cent.

Q2 FY27 numbers

The Noida-headquartered company posted consolidated net profit of ₹5,132 crore for the quarter ended 30 September, against ₹4,235 crore a year earlier, and up 11 per cent sequentially, according to Business Standard and Moneycontrol. Revenue from operations rose 11.5 per cent year-on-year to ₹35,620 crore.

• EBIT: ₹6,465 crore; EBIT margin 18.2 per cent, up 131 basis points quarter-on-quarter and 71 basis points year-on-year (Kotak Neo, Moneycontrol)
• Constant-currency revenue growth: 2.6 per cent year-on-year and 2.3 per cent quarter-on-quarter (Kotak Neo)
• New deal bookings: about $3.26 billion, including a $1.14 billion deal from Mercedes-Benz
• Advanced AI revenue: $219 million, up 78 per cent year-on-year and 28.4 per cent sequentially
• Headcount: 6,450 employees added, taking the total to 2,30,339
• Dividend: ₹12 per share (Kotak Neo)

Chief Executive C Vijayakumar described the quarter as strong and said clients were responding to the company’s AI offerings, according to Kotak Neo, which reported his remarks in indirect speech. Moneycontrol reported that the company also announced a partnership with Anthropic focused on enterprise adoption of agentic AI.

Guidance narrowed

HCLTech put its FY27 constant-currency revenue growth guidance at 2.5–4 per cent. Moneycontrol and Business Standard reported that this narrows the earlier range of 1–4 per cent by raising the lower end; Kotak Neo described the 2.5–4 per cent band as retained. Services revenue growth guidance was put at 3–4 per cent and EBIT margin guidance was kept at 17.5–18.5 per cent.

Share reaction and brokerage views

The stock had closed at ₹1,223 on the NSE on Monday, ahead of the results. In early trade on Tuesday it was quoted near ₹1,270, roughly 4 per cent higher, according to Business Standard; the report’s body text contains conflicting wording on the direction of the move, while its headline states the shares gained over 4 per cent. Moneycontrol noted the stock had fallen about 25 per cent so far in 2026.

• Nomura raised its target price to ₹1,330 from ₹1,310 and lifted FY27–FY28 EPS estimates by about 2–3 per cent
• HSBC kept a Hold rating with a target of ₹1,225, saying “the sustainability of this recovery remains uncertain,” according to Moneycontrol
• CLSA kept a Hold rating with a target of ₹1,094
• Centrum retained Buy but cut its target to ₹1,515 from ₹1,548, according to Business Standard

Sources: Business Standard, Moneycontrol (via TradingView), Kotak Neo