HCL Tech registered more growth in June quarter as compared to its peers

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HCL Tech registered more growth in June quarter as compared to its peers
Amongst all Indian IT giants, the fourth largest software exporter HCL Technologies has delivered the highest sequential growth in dollar denominated revenue for the June quarter. The announcement was made while declaring the company’s quarterly results, and HCL tech portrayed a more optimistic growth scenario for FY17.

The deal that HCL tech did with Volvo's IT services division in February this year has added over $40 million to the revenue during the June quarter, which took it to $ 1,691 million, a growth of 6.5% from the previous quarter. Even if we exclude the revenue from this deal, the organic revenue growth was 4%, better than its rivals. While TCS reported 3.7% revenue growth, it was 2.2% and 2.6% for Infosys and Wipro, respectively.

Also read: Indian IT firms like Infosys, Wipro, HCL want to seal larger deals worth over $500 million only on one condition
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In FY17, the company expects the revenue to grow by 12 to 14% (without considering the foreign exchange fluctuations). Rival firm Infosys has given an estimate of 10.5 to 12%.

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