BENGALURU: HCL Technologies’ revenue grew 2.7% sequentially in the June quarter, and 15.6% year-on-year in constant currency. In dollar terms, revenue was up 11.2% year-on-year to $3 billion. Its larger Indian peer TCS, which announced its results last week, grew its constant currency revenue 3.5% sequentially, and 15.5% year-on-year.
C Vijayakumar, CEO & MD of HCL Technologies, said the company had started FY23 on a strong note. “Our services business continues to deliver an increasing growth trajectory, growing at 19% year-on-year and 2.3% quarter-on-quarter. The growth momentum in our services business and engineering business is led by engineering R&D services and digital applications services with cloud transformation being the central theme across all services and verticals. We also saw a strong recovery in the products and platforms business that grew 5.6% sequentially and 1.1% year on year,” he said. Engineering and R&D services grew 3.7% sequentially and 23% year-on-year, driven by traction in digital engineering and IoT services.
