India’s third-largest IT services firm, HCLTech posted a 20.3% year-on-year (YoY) rise in consolidated net profit to Rs 4,624 crore for the first quarter of FY27. The IT major also maintained its FY27 revenue and margin guidance and announced an interim dividend of Rs 12 per equity share.
Revenue of HCLTech rose 13.94% year-on-year (YoY) to Rs 34,579 crore. A weaker rupee also boosted revenue, as IT firms bill clients in foreign currencies. The local currency depreciated by around 9% against the US dollar during the June quarter. Revenue in constant currency terms rose 2.6% YoY.
Here are key highlights.
1. HCLTech FY27 guidance maintained
The company maintained its FY27 guidance, expecting overall revenue growth of 1-4% in constant currency. It also retained its services revenue growth guidance at 1.5-4.5% and EBIT margin guidance at 17.5-18.5%.
| Guidance | FY27 Outlook | Status |
|---|---|---|
| FY27 revenue guidance | 1–4% CC growth | Maintained |
| FY27 services revenue guidance | 1.5–4.5% CC growth | Maintained |
| FY27 EBIT margin guidance | 17.5–18.5% | Maintained |
2. HCLTech clocks highest ever Q1 new bookings
The company’s new bookings stood at $2.4 billion in the quarter.This marks its highest-ever net new bookings for a June quarter. The IT firm had recorded $1.8 billion in Q1FY26 and $1.9 billion in Q4FY26.
C Vijayakumar, CEO & Managing Director of HCLTech said, “We recorded our highest ever Q1 net-new bookings of $2.4 billion and our Advanced AI business grew 10.6% QoQ and 62.1% YoY in constant currency terms. These demonstrate that enterprises are choosing us to lead their AI-led transformation. Combined with the operational efficiencies visible in margin expansion, this momentum gives us the confidence we’re positioned to keep outpacing the market over the medium term.”
3. HCLTech Q1 headcount falls
HCLTech’s total employee count stood at 223,889 at the end of June, down by 3,292 employees from the previous quarter. The company hired 1,056 freshers during the quarter, while attrition edged up to 12.7%.
| Metric | Q1FY27 | Q1FY26 / Q4FY26 Comparison |
|---|---|---|
| Net profit | Rs 4,624 crore | ▲ 20.3% YoY; ▲ 3% QoQ |
| Revenue | Rs 34,579 crore | ▲ 13.9% YoY; ▲ 1.8% QoQ |
| Constant currency revenue growth | 2.6% YoY | — |
| EBIT margin | 16.9% | ▲ 56 bps YoY; ▲ 39 bps QoQ |
The company also reported 23 clients with annual revenue exceeding $100 million and 60 clients contributing over $50 million each.
4. HCLTech Q1FY27 AI revenue rises 62% YoY
HCLTech’s AI revenue grew to $171 million from $155 million in the preceding quarter. This shows an increase of 10.6% sequentially and 62.1% year-on-year in constant currency, supported by strong enterprise demand for AI-led transformation projects.
Chairperson Roshni Nadar Malhotra said, “AI is accelerating the transformation of global enterprises and unlocking new growth vectors for HCLTech. With our differentiated portfolio, we continue to demonstrate our ability to help clients leverage technology to drive their business strategies. We also remain focused on upskilling our people in emerging technologies and are embedding AI across the organization.”
5. HCLTech announces Rs 12 Dividend
The board declared an interim dividend of Rs 12 per equity share of face value Rs 2 for FY27. The record date has been fixed as July 17, while the dividend will be paid on July 27.
On a sequential basis, the IT firm reported a 3% increase in profit from Rs 4,488 crore in Q4FY26. Revenue also increased 1.76% from Rs 33,981 crore.
HCLTech’s EBIT margin expanded to 16.9% during the quarter, improving by 39 basis points sequentially and 56 basis points from a year ago despite restructuring costs.
“Excluding the impact of restructuring costs, EBIT margin and Net Income margin stood at 17.5% and 13.8%, respectively,” Shiv Walia, Chief Financial Officer of HCLtech said.
Net income margin came in at 13.4%, while diluted earnings per share rose to Rs 66.90.