HCL Technologies (HCLTECH) on the NSE reported a Q3 net profit of ₹5,132 crore, up 36% YoY, pushing the share price up 8.5% amid a 5% rally in the Nifty IT index.
Revenue grew 12% to ₹14,200 crore, with AI‑driven services contributing 6% of sales and showing a 28% sequential jump, according to the filing.
Headcount rose to 2.30 lakh, the highest in company history, after adding 6,450 employees in the quarter, signalling a rebound in contract flow.
Jefferies upgraded HCL to ‘Hold’ from ‘Underperform’, lifting FY27‑29 EPS estimates by up to 2% and forecasting a 6% recurring EPS CAGR, while noting the company’s 20‑25% valuation premium over peers.
The IT surge was amplified by a sell‑off in Asian chipmakers—KOSPI fell 5.5%, Samsung 7.4%, and SK Hynix 10%—as concerns over AI investment fallout weighed on tech stocks.
Analysts now focus on HCL's forward guidance, expecting the firm to sustain its margin expansion and deliver consistent EPS growth through FY29, while the broader IT sector watches the impact of AI‑related market volatility.