HCLTech Q2 profit rises 21%, AI revenue jumps 78%

HCL Technologies Limited (NSE: HCLTECH) reported Q2 FY27 revenue of ₹35,620 crore, up 11.5% YoY, while net profit rose 21.2% to ₹5,132 crore. Advanced AI revenue reached $219 million, up 78% YoY in constant currency terms. HCLTech Key details • Revenue: ₹35,620 crore, up 11.5% YoY. • Net profit: ₹5,132 crore, up 21.2% YoY. • EBIT margin improved to 18.2%, up 71 bps YoY. • New deal wins stood at $3.26 billion. • Advanced AI revenue rose 28.4% QoQ and 78% YoY to $219 million. • HCLTech now expects FY27 constant-currency revenue growth of 2.5% to 4%. My view The standout number is not just profit growth, but the acceleration in AI revenue alongside margin improvement. HCLTech is showing that AI can become a meaningful revenue stream while also supporting operating efficiency. At the same time, management’s 2.5% to 4% FY27 growth guidance suggests that the broader demand environment is still not fully strong. What I’m watching next I will track AI revenue growth, conversion of the $3.26 billion deal wins and whether EBIT margin stays within the 17.5% to 18.5% FY27 guidance band. Stance: Positive on AI momentum and margin execution, but stronger overall revenue growth is still the key trigger. Disclosure: I do not have any holding or position in the stock mentioned above.