HCLTech reported consolidated net income of ₹5,132 crore for the quarter ended 30 September 2026, up 21.2% from a year earlier and 11% sequentially. Revenue reached ₹35,620 crore, while new deal bookings of $3.3 billion were 27% higher year-on-year, according to the company’s results announcement dated 12 October. HCLTech’s official release (opens in a new tab) supplies the financial figures.
The results were a focus for Indian IT shares on 13 October. Upstox’s morning market report (opens in a new tab) described buying in HCLTech and peers, although its stock-mover observations should not be confused with a full-day closing return.
What HCLTech reported for Q2 FY27
Q2 FY27 is the July–September 2026 quarter in HCLTech’s financial year ending March 2027. The following figures use the company’s disclosed consolidated basis rather than mixing them with standalone accounts or analyst estimates.
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| Metric | Q2 FY27 reported figure | Company-reported comparison |
|---|---|---|
| Revenue, Indian rupees | ₹35,620 crore | +3% QoQ; +11.5% YoY |
| Net income | ₹5,132 crore | +11% QoQ; +21.2% YoY |
| EBIT margin | 18.2% | +131 basis points QoQ |
| Overall constant-currency revenue growth | +2.6% YoY | +2.3% QoQ |
| New deal bookings | $3.3 billion | +27% YoY |
| Advanced-AI quarterly revenue | $219 million | +28.4% QoQ; +78% YoY in constant currency |
The rupee revenue growth rate and constant-currency growth rate are different measurements. Constant-currency reporting removes exchange-rate translation effects under the company’s methodology; a stronger rupee-denominated growth rate does not mean the underlying business grew by the same percentage in every currency.
AI revenue and bookings are not interchangeable
The company said advanced-AI revenue was $219 million for the quarter, giving an annualized figure of $876 million. The annualized number expresses the quarterly rate over four quarters; it is not revenue already earned across a completed full year.
Similarly, $3.3 billion in new bookings is not the quarter’s recognized revenue. Booked work can be delivered over different periods and remain subject to execution and contract conditions. Reading bookings as immediate cash receipts would overstate what the release establishes.
Our earlier TCS results explainer discusses a similar distinction between revenue and contract-value measures. The company definitions and periods still need to be checked separately rather than treated as directly comparable.
Guidance remains an outlook, not an outcome
HCLTech set FY27 overall revenue growth guidance at 2.5%–4% year-on-year in constant currency, services revenue growth at 3%–4%, and an EBIT margin range of 17.5%–18.5%. These are management expectations for the financial year, not completed results or guarantees.
The release describes revised guidance. This article does not call it an upgrade or downgrade without reconciling the earlier guidance on the same basis. It also does not label the quarter a consensus beat because an independently verified consensus estimate set has not been established.
The company announced a ₹12-per-share dividend for the quarter. A declaration is distinct from the record date, eligibility and actual payment; readers should consult the applicable exchange filing before drawing conclusions about entitlement.
Why the results matter for the market
The 13 October opening-market report places HCLTech’s results alongside the wider IT-sector move. The company also announced an Anthropic partnership, but a partnership announcement alone does not establish a separately quantified revenue contribution.
The next useful checks are delivery against the stated growth range, the conversion of bookings into recognized revenue and the durability of margins. A positive morning reaction is not evidence that those outcomes are assured.
Sources
- HCLTech — official Q2 FY27 results release (opens in a new tab), published 12 October 2026; exact publication time not supplied.
- Upstox — opening-market reaction (opens in a new tab), updated 13 October 2026 at 09:46 IST. Company financial figures above are sourced to the primary release, not the secondary margin commentary.