HCL Technologies Ltd maintained its growth momentum of recent quarters, reporting 3.3% sequential revenue growth in constant currency terms for the March quarter. Growth is expected to improve on the back of a ramp-up of large deals HCL Technologies won in the past one year. Needless to say, a contraction in margins will mean earnings growth lags revenue growth. Prateek Aggarwal, chief financial officer of HCL Technologies, maintains that the upper end of the margin guidance implies stable profitability. The HCL Technologies stock, meanwhile, outperformed the Nifty IT index this year, rising by about 20%, against an 11.2% rise in the index.

Source: Mint May 09, 2019 17:15 UTC