HCL Technologies Surges on Strong Q1 Results; Forecasts 3-5% Growth for FY 2025

Shares of IT services company HCL Technologies surged nearly 5% on Monday morning following the announcement of a 20.4% increase in consolidated net profit to Rs 4,257 crore for the quarter ended in June. The company also provided a revenue growth guidance of 3-5% for the fiscal year 2025.

HCL Technologies’ stock price rose 4.83% to Rs 1,635.85 on the BSE and 4.88% to Rs 1,636.40 on the NSE. The company’s market valuation increased by Rs 12,157.22 crore to Rs 4,35,597.52 crore during early trading, making it the top gainer among BSE Sensex and NSE Nifty firms. The 30-share BSE Sensex climbed 290.46 points to 80,809.80, while the NSE Nifty rallied 95.85 points to reach a new record peak of 24,598.

HCL Technologies CEO and MD C Vijayakumar expressed confidence in the company’s performance, stating that they expect to achieve the annual growth guidance of 3-5% in constant currency. He highlighted the company’s strong operational execution and expressed positivity about achieving positive growth in the second quarter, despite the revenue from State Street divestment going away.