HCL Tech Q1: Net profit up 9.9% to Rs 3,214 cr; retains FY22 double-digit growth guidance


HCL Technologies posted a softer than expected Q1 with revenue growth, margins and profits below expectations. Q1 TCV of New Deal wins stood healthy at US$ 1664 mn, up 37% YoY. Deal wins growth enabled by 8 Large Services deal wins and 4 significant product wins. FY22 guidance retained: Revenue expected to grow in double digits in constant currency for FY22 and retained EBIT margin guidance of 19% to 21% for FY22. Revenue growth of 0.7% QOQ and 11.7% yoy in CC terms.



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