HCLTech's Q1 deal wins drop by 39.5% QoQ
HCLTech's new contract wins dropped sharply this quarter—just $1.8 billion, down nearly 40% from last quarter and a bit lower than last year.
This is a big shift after their strong run in FY25 across healthcare, telecom, and aerospace.
Fewer deals overall, but cool wins in AI
Even with fewer deals overall, HCLTech scored some cool wins in artificial intelligence—think a GenAI platform for sports commentary and smarter IT for European telecoms.
They also landed projects in US healthcare and network services worldwide, with over a dozen AI-driven contracts across industries.
Revenue up 8% year-on-year at $3.8 billion
Revenue was up 8% year-on-year at ₹30,349 crore ($3.8 billion), but profits slipped almost 10%.
CEO C Vijayakumar pointed out growing demand for AI solutions (thanks to their OpenAI partnership), while CFO Shiv Walia emphasized how much value AI is bringing to businesses right now.