HCL Tech: Product Driven Q3 Beat Should Ease Viability Concerns, Says Motilal Oswal
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
HCL Technologies Ltd. delivered strong revenue growth (3.5% QoQ constant currency terms) in Q3 FY21, above our expectation and its guidance, led by stronger than expected seasonality in the products and platforms vertical (P&P, up 8.3% QoQ in CC) and continued traction in mode two services (up 10.9% QoQ in CC).
We expect the company to return to mid-teens growth in FY22 (14% YoY in CC U.S. dollar) as continued strength in P&P – due to improving deal wins and new client additions – complements improving demand environment in IT Services and research and development verticals.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.