HCLTech Q3 results: Profit rises 18.8%, FY23 revenue guidance trimmed

Deal pipeline remains strong, may see a moderation in Europe next quarter, says CEO

India’s third-largest IT services firm HCLTech reported a strong quarter with a net profit of Rs 4,096 crore for Q3, FY23, an increase of 18.8 per cent compared to the same period last year, against a weak global macroeconomic environment. However, the company brought down its higher end of revenue guidance for the 2023 fiscal year. 

HCLTech revised its revenue guidance to 13.5 per cent to 14 per cent, down from the earlier 13.5 per cent to 14.5 per cent due to seasonal weakness expected in the Q4FY23. 

The net consolidated revenue of the company grew 19.6 per cent to