HCL Tech in mid-quarter update ‘Seen strong execution to date’.

IT major HCL today provided a mid-quarter update, saying that it expects the revenue and the operating margin for the current quarter to be meaningfully better than the top end of the guidance provided in July 2020.

The IT company said, “we have seen strong execution during the quarter to date and continue to execute to the plan this month. The revenue growth for the current quarter is expected to exceed 3.5% quarter in constant currency, enabled by broad based momentum across all service lines, verticals and geographies”.

HCL Tech said that the EBIT% for the current quarter is expected to be between 20.5% and 21.0% and it sees good booking momentum continues this quarter led by Life Sciences and healthcare, telecom and media and financial services verticals.

HCL Tech said, the pipeline continues to look healthy across service lines, verticals and geographies. IT major also announced Roshni Nadar Malhotra replacing her father, Shiv Nadar as the Chairman of HCL tech in June quarter filing.

HCL Technologies, in august announced a multi-phase hackathon: –
#codeforcovid19 to crowd-source technology innovation to find solutions for immediate and long-term societal impact of the COVID-19 pandemic.

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