FILE PHOTO: Employees of HCLTech walk inside the office premises on the outskirts of Lucknow, India, March 20, 2024. REUTERS/Pawan Kumar/File Photo
BENGALURU (Reuters) -HCLTech, India's third-largest software services provider, reported better-than-expected quarterly revenue on Monday, aided by growth in Europe and "rest of world" geographies.
It posted an 8.16% rise in consolidated revenue to 303.49 billion rupees ($3.53 billion) in the June quarter. Analysts, on average, had expected revenue of 302.92 billion rupees, as per data compiled by LSEG.
The company narrowed its annual revenue growth forecast for fiscal year 2026 to 3% to 5% from the 2% to 5% forecast it gave in April.
HCLTech's net profit fell 9.7% in the three-month period to 38.43 billion rupees.
Uncertainty around tariffs in the U.S., the biggest market for India's $283-billion IT sector, has quashed hopes of a revival in client confidence and spending.
Industry leader Tata Consultancy Services missed its quarterly earnings estimates last week, leading to concerns of a prolonged lull in demand. Peers Wipro and Infosys will report their results later this month.
HCLTech's order bookings for the quarter stood at $1.81 billion, compared to $3 billion in the previous quarter and $1.96 billion in the year-ago period.
Four of its seven industry segments grew, while manufacturing, life sciences, and healthcare and public service segments declined.
Its shares closed 1.13% lower ahead of the results on Monday.
($1 = 85.9700 Indian rupees)
(Reporting by Haripriya Suresh; Editing by Mrigank Dhaniwala)
