Exceptional all-round performance

Company
17 Jan 2024
5 Min read 
  • HCL Technologies reported a strong 3QFY24 performance with a 6% QoQ revenue growth.
  •  The growth was driven by seasonal gains in HCL Software (P&P) and healthy growth in IT and ER&D verticals.
  •  The company narrowed its FY24 revenue growth guidance to 5.0%-5.5% YoY in CC.
  •  The EBIT margin exceeded expectations at 19.8% due to strong performance in HCL Software.
  •  The implied 4Q guidance suggests continued growth despite macro challenges.
  •  HCLT remains a top pick in the IT Services coverage for 2024.
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