HCL Tech beats peers, forecasts highest growth for FY18

Unlike many other majors, profit rises 20.8% to Rs 2,325 crore in March quarter

HCL Technologies, the country's fourth largest information technology (IT) services entity, surprised the Street with a high growth forecast for this financial year, at a time when larger peers have been conservative.     

Noida-based HCL says it expects revenue growth of 10.5 to 12.5% in constant currency for 2017-18. Larger peers Infosys, Cognizant and Wipro have given a single-digit or flat growth estimate, due to global uncertainties and anticipated cost pressure with a push for local hiring in the US. Industry body Nasscom has delayed its growth forecast for FY18 by a quarter, citing uncertainties.

Indian IT services