In short: HCLTech's Q2 FY27 revenue rose 11.5% to ₹35,620 crore from a year earlier, and net profit rose 21.2% to ₹5,132 crore. EBIT margin was 18.2%, up 131 bps from the previous quarter. In the first trading session after the results (13 Oct), the median NAV change was +2.5% for technology funds, +5.2% for IT index funds and ETFs and +1.6% for Nifty 50 index funds. Services grew 3.0% from the previous quarter in constant currency while HCLSoftware fell, and HCLTech raised the lower end of its FY27 revenue guidance to 2.5%.
What changed in HCLTech's Q2 FY27 results
- Revenue from operations was ₹35,620 crore, up 11.5% from a year earlier and up 3.0% from the previous quarter.
- Net profit was ₹5,132 crore, up 21.2% from a year earlier and up 11.0% from the previous quarter.
- EBIT margin was 18.2%, up 131 bps from the previous quarter and up 71 bps from a year earlier.
- Revenue was $3,724 million. In constant currency, revenue grew 2.6% from a year earlier and 2.3% from the previous quarter.
- New deal wins (bookings): $3,258 million, against $2,407 million in the previous quarter.
- Headcount was 230,339, up 6,450 in the quarter. Attrition, excluding involuntary exits, over the last twelve months was 12.8%.
- Interim dividend of ₹12 per share, with a record date of 16 October 2026.
- FY27 guidance, raised at the lower end in October: revenue growth of 2.5–4.0% and services revenue growth of 3.0–4.0%, both in constant currency, with the EBIT margin band unchanged at 17.5–18.5%. Previously: revenue growth of 1.0–4.0% and services growth of 1.5–4.5%.
HCLTech Q2 FY27 results at a glance
| Metric | Q2 FY27 | Q1 FY27 | Q2 FY26 | QoQ | YoY |
|---|---|---|---|---|---|
| Revenue (₹ crore) | 35,620 | 34,579 | 31,942 | +3.0% | +11.5% |
| Net profit (₹ crore) | 5,132 | 4,624 | 4,235 | +11.0% | +21.2% |
| EBIT margin | 18.2% | 16.9% | 17.4% | +131 bps | +71 bps |
Genvest analysis
Services carried the quarter. HCLTech's services business grew 3.0% from the previous quarter and 4.0% from a year earlier in constant currency: IT and business services grew 2.7% in the quarter and engineering and R&D services 4.1%. HCLSoftware revenue fell 5.8% in the quarter and 11.2% over the year, so company revenue grew 2.3% from the previous quarter and 2.6% from a year earlier in constant currency.
In rupees, revenue rose 3.0% from the previous quarter to ₹35,620 crore and 11.5% from a year earlier. In dollars it was $3,724 million, up 2.2% from a year earlier; the rupee averaged ₹95.72 to the dollar in the quarter, against ₹87.63 a year earlier, which accounts for most of the gap.
EBIT margin rose to 18.2% from 16.9% in the June quarter, even with 84 bps of restructuring cost, up from 62 bps. IT and business services' margin rose to 18.6%, while engineering and R&D slipped to 15.2%. Net profit of ₹5,132 crore was up 11.0% from the previous quarter and 21.2% from a year earlier; HCLTech called it its highest quarterly net income.
New deal wins were $3,258 million, against $2,407 million in the June quarter, and HCLTech said bookings were up 27% from a year earlier. Advanced AI revenue was $219 million, up 28.4% from the previous quarter and 78.0% from a year earlier in constant currency. Financial services, the largest vertical at 22.4% of services revenue, grew 7.1% from a year earlier; Europe was flat to slightly lower.
HCLTech raised the lower end of its FY27 guidance to 2.5–4.0% revenue growth and 3.0–4.0% services growth in constant currency, keeping the EBIT margin band at 17.5–18.5%. Headcount rose by 6,450 to 230,339, its largest net addition in five quarters, and attrition over the past year was 12.8%.
HCLTech revenue, margin and earnings trend
- Revenue went from ₹29,890 crore in Q3 FY25 to ₹35,620 crore in Q2 FY27, rising on the previous quarter in every one of the last 7 quarters.
- Year-on-year revenue growth over the last 4 quarters ranged from 11.5% to 13.9% in rupees.
- In constant currency, growth on the previous quarter ranged from −3.3% to 4.2% over the last 8 quarters.
- Earnings per share over the last four quarters were ₹67.70, against ₹62.65 in the four quarters before (+8.1%).
- EBIT margin ranged from 16.3% (Q1 FY26) to 19.5% (Q3 FY25); the latest 18.2% is 130 bps below the high.
| Quarter | Revenue (₹ crore) | YoY | CC growth QoQ | EBIT margin | EPS (₹) |
|---|---|---|---|---|---|
| Q2 FY27 | 35,620 | +11.5% | +2.3% | 18.2% | 18.96 |
| Q1 FY27 | 34,579 | +13.9% | −0.5% | 16.9% | 17.09 |
| Q4 FY26 | 33,981 | +12.3% | −3.3% | 16.5% | 16.59 |
| Q3 FY26 | 33,872 | +13.3% | +4.2% | 18.6% | 15.06 |
| Q2 FY26 | 31,942 | +10.7% | +2.4% | 17.4% | 15.63 |
| Q1 FY26 | 30,349 | – | −0.8% | 16.3% | 14.18 |
| Q4 FY25 | 30,246 | – | −0.8% | 18.0% | 15.90 |
| Q3 FY25 | 29,890 | – | +3.8% | 19.5% | 16.94 |
EBIT margins from Q2 FY26 include restructuring costs (55, 81, 122, 62 and 84 bps). The Q3 FY26 margin excludes a one-time ₹956 crore Labour Codes charge, as HCLTech reports it; Q3 FY26 earnings per share include it (₹719 crore after tax). Source: HCLTech investor releases and results filings.
How IT funds moved after HCLTech's results
Median one-day change in NAV between 12 Oct and 13 Oct, across the Direct-Growth plans in each group (all units for ETFs). NAVs capture the whole day's market, not only one company's results.
| Fund group | Median change | Funds |
|---|---|---|
| Technology funds | +2.50% | 12 |
| IT index funds and ETFs | +5.22% | 17 |
| Nifty 50 index funds | +1.60% | 23 |
Source: AMFI daily NAVs.
What HCLTech's results mean for fund investors
- Technology funds. Large IT services companies are usually among the biggest holdings of technology funds, so results days move these funds more than diversified equity funds.
- Index funds. IT services is one of the larger sectors in the Nifty 50, so Nifty 50 index funds also carry some of this result.
- Overlap. If you hold several technology funds, or IT shares alongside them, check how concentrated you are with the portfolio analyzer.
HCLTech Q2 FY27 results: questions
When did HCLTech announce Q2 FY27 results?
HCLTech announced its Q2 FY27 results on 12 October 2026.
What was HCLTech's Q2 FY27 net profit?
Net profit was ₹5,132 crore, up 21.2% from a year earlier and up 11.0% from the previous quarter.
What was HCLTech's Q2 FY27 revenue?
Revenue from operations was ₹35,620 crore, up 11.5% from a year earlier and up 3.0% from the previous quarter.
Other IT Q2 FY27 results
- TCS Q2 FY27 results · 8 October 2026 · net profit +15.0% YoY
- HCLTech Q2 FY27 results · 12 October 2026 · net profit +21.2% YoY
- Wipro Q2 FY27 results · 15 October 2026 · net profit −1.4% YoY
- Tech Mahindra Q2 FY27 results · 15 October 2026 · net profit +32.7% YoY
- Infosys Q2 FY27 results · 23 October 2026 · net profit +6.2% YoY
All IT Q2 FY27 results in one place
Sources
- HCLTech Q2 FY27 investor release
- HCLTech Q2 FY27 financial results (exchange filing)
- HCLTech Q1 FY27 investor release
- HCLTech: Q2 FY27 results and conference call notice, 5 October 2026
- AMFI daily NAVs, 13 Oct.
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