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HCL Technologies (HCLTech) is poised to unveil its financial performance for the second quarter of fiscal year 2025 (Q2FY25) on October 14, 2024. Analysts anticipate a sequential increase in revenue, signaling continued growth for the IT services giant. However, the company's net profit is projected to experience a dip, primarily attributed to a combination of factors impacting its software segment.
The sluggish growth in the software segment, coupled with the impact of the divestment of the State Street BPO (Business Process Outsourcing) operation, is expected to contribute to the anticipated decline in profit. Additionally, the normalization of other income streams, which may have contributed to higher earnings in previous quarters, is likely to play a role in the projected profit reduction.
According to a poll conducted by Moneycontrol, analysts predict a 1.6% quarter-on-quarter (QoQ) rise in HCLTech's Q2FY25 revenue, reaching Rs 28,517 crore. In contrast, the profit after tax (PAT) is projected to decline by 5.5% QoQ, settling at Rs 4,024 crore. The anticipated decline in profit underscores the challenges faced by HCLTech in navigating the evolving technological landscape and adapting to the changing dynamics of the IT services industry.
Source: Reliance Industries Q2 Results Live: Mukesh Ambani-led RIL to declare Q2FY25 earnings today