HCL Technologies Grew the Fastest Among India’s IT firms

HCL Technologies grew fastest among the large IT firms in India in the third quarter. The growth is seen as a result of a surge in deals from customers globally. The company announced a 7.6% growth in its revenue, making it the fastest growth in 12 years.

The company also said that it faced lower utilisation of its engineers in the last three months, for incrementation. It has also been engaged to increase hiring. Revenue from operations rose by 15.7% to Rs 22,331 crore, with strong growth in digital engineering and R&D offerings, cloud transformation and application modernization deals.

HCL Technologies is now confident to have double-digit revenue growth and EBIT (earnings before interest and tax) this financial year. But it has yet not given an exact range of expected revenue growth. The shares of HCL Technologies rose 0.32% to Rs 1,337.55 apiece on the BSE.