HCL Tech Q4 results: Profit rises 4% YoY to ₹4,488 crore; revenue up 2.4% YoY in CC

HCL Tech Q4 results: HCL Technologies, India's third-largest IT company in terms of market capitalisation, on Tuesday, 21 April, reported a 4.20% year-on-year (YoY) rise in its March quarter (Q4FY26) consolidated profit to ₹4,488 crore. In the same quarter last year, the company's profit was ₹4,307 crore. Sequentially, or on a quarter-on-quarter (QoQ) basis, the company's profit rose by 10.11% from ₹4,076 crore in Q3FY26.

HCL Tech's consolidated revenue from operations for the quarter under review grew by 12.35% YoY to ₹33,981 crore from ₹30,246 crore in Q4FY25. QoQ, revenue remained almost flat as in Q3FY26, its revenue was ₹33,872 crore.

In constant currency (CC), the company's revenue rose by 2.4% YoY but declined 3.3% QoQ. Dollar revenue increased 5.3% YoY but declined 2.9% QoQ to $3,682 million in Q4FY26.

“HCL Tech delivered superior revenue growth of 3.9% in constant currency, 10 bps below our guidance and 17.2% operating margin within our guidance, in a year marked by an uncertain demand environment," said C Vijayakumar, CEO and Managing Director, HCL Tech.

"During the quarter, our performance came below our expectations due to softness in certain parts of our business, due to lower discretionary spend and delayed decision making. Our new AI-led service offerings are getting traction in the market and are reflected in annualised Advanced AI revenues crossing $620 million in Q4. Our number one priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi-decade value creation,” Vijayakumar said.

HCL Tech Q4 results: Key takeaways

1. Profitability

HCL Tech's EBIT during the quarter stood at ₹5,620 crore compared with ₹5,442 crore in Q4FY25 and ₹6,285 crore in Q3FY26. This shows a 10.6% QoQ decline and a 3.3% YoY rise in Q4FY26 EBIT.

EBIT margin, excluding restructuring, stood at 17.7%, compared to 18% YoY and 19.4% QoQ.

2. Deal wins

HCL Tech secured several deal wins, including multiple advanced AI deals, during the January-March quarter. Its new deal wins total contract value stood at $1,936 million in Q4FY26, while for the entire year FY26, it was $9,323 million.

3. Key geographies and verticals

In CC terms, revenue from the US market increased by 4.9% YoY during the quarter, while in Europe, it declined by 2.9% YoY. The rest of the world and the Indian markets grew by 16.6% and 5.3%, respectively, on a year-over-year basis.

Among key verticals, technology and services saw a healthy growth of 17.8% YoY in CC, while financial services also saw a decent 4.3% YoY growth.

Revenue from telecommunications, media, publishing and entertainment declined 8.6% YoY in CC.

4. LTM attrition declines YoY

The company’s last twelve-month (LTM) voluntary employee attrition rate fell to 12.5% from 13.0% in Q4 of the previous year. During the quarter, the company added 1,712 freshers, and by the end of the March quarter, its total people count stood at 2,27,181, with a net addition of 802.

5. HCL Tech declares ₹12 interim dividend

HCL Tech announced a dividend of ₹24 per share for the quarter, which resulted in a total dividend of ₹60 per share for FY26.

"Our Board is pleased to declare ₹24 per share as the dividend for the quarter, bringing the total to ₹60 per share for FY26, which is 97.6% of the EPS," Shiv Walia, Chief Financial Officer, HCL Tech, said.

The company has also set Saturday, 25 April, as the record date to determine shareholders eligible for the dividend. The payout will be made on Tuesday, 5 May, as per the company's exchange filing.

6. FY27 guidance

HCL Tech expects revenue growth to be between 1% to 4% YoY in CC terms. Services revenue growth is expected to be between 1.5% - 4.5% YoY in CC. EBIT margin may be between 17.5% – 18.5% in FY27, as per the company's exchange filing.

Track all Q4 results-related updates here.