HCLTech Shares Tank After Earnings

New Delhi, Apr 22 (PTI) Shares of IT major HCLTech on Wednesday tumbled nearly 10 per cent after the company's March quarter earnings failed to cheer investors.

The stock tanked 9.70 per cent to Rs 1,301.60 on the BSE.

At the NSE, the stock dropped 9.72 per cent to Rs 1,301.

The company's market valuation eroded by Rs 37,652.1 crore to Rs 3,53,536.29 crore during morning trade.

HCLTech on Tuesday reported a 4.20 per cent year-on-year rise in consolidated net profit to Rs 4,488 crore in the January-March quarter of FY26, even as the management flagged a highly volatile demand environment shadowed by tariffs and softened discretionary spending, while giving a FY27 growth guidance of 1-4 per cent.

The Noida-headquartered firm had reported a consolidated net profit of Rs 4,307 crore in the same period of FY25.


The firm's revenue from operations rose 12.34 per cent to Rs 33,981 crore in Q4 FY26, up from Rs 30,246 crore in Q4 FY25.

The IT major projected its FY27 revenue growth in the range of 1 per cent to 4 per cent in constant currency (CC) terms. The company attributed the broad band of guidance to market volatility, reduced discretionary spending, and two client-specific situations where it expects some ramp-downs.

HCLTech CEO and MD C Vijayakumar termed the year as an uncertain demand environment.

"During the quarter, our performance came below our expectations due to softness in certain parts of our business, due to lower discretionary spend and delayed decision making.

"Our new AI-led service offerings are getting traction in the market and are reflected in annualised Advanced AI revenues crossing USD 620 million in Q4. Our number one priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi-decade value creation," he said.

Among other IT stocks, Tech Mahindra lost 4.18 per cent, Infosys dropped 3.78 per cent, Tata Consultancy Services traded 1.83 per cent lower, and Wipro dipped 0.66 per cent.

The BSE IT index declined 3.04 per cent to 29,703.02.