HCL Technologies Q2 FY27 Results: Consolidated Net Profit ₹5,132 Crore on Total Income of ₹35,854 Crore

Earnings
IT Services

Blacklitt Research12 October 20263 min read

A large open-plan office floor with rows of computer workstations — Petiatil, via Wikimedia Commons (public domain). Illustrative image.

HCL Technologies reported consolidated total income of ₹35,854.00 crore and net profit of ₹5,132.00 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹16,098.00 crore and net profit was ₹4,302.00 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹35,854 crore, up 10.8% YoY, up 2.6% QoQ
Net profit: ₹5,132 crore, up 21.2% YoY, up 10.9% QoQ
EPS: ₹18.96, against ₹15.63 in Q2 FY26
Interim dividend: ₹12 a share, record date 16 October 2026, payable 26 October

Standalone

The company on its own, without its subsidiaries

Total income: ₹16,098 crore, up 13.7% YoY, down 14.1% QoQ
Net profit: ₹4,302 crore, up 61.9% YoY, down 38.8% QoQ
EPS: ₹15.89, against ₹9.81 in Q2 FY26
Tax as share of profit before tax: 15.1%, against 32.2% a year earlier

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	35,854.00	32,357.00	+10.8%	34,940.00	+2.6%
Revenue from operations	35,620.00	31,942.00	+11.5%	34,579.00	+3.0%
Other income	234.00	415.00	-43.6%	361.00	-35.2%
	5,132.00	4,236.00	+21.2%	4,626.00	+10.9%
Finance costs	194.00	215.00	-9.8%	84.00	+131.0%
Depreciation	1,012.00	1,043.00	-3.0%	1,039.00	-2.6%
Tax expense	1,335.00	1,466.00	-8.9%	1,482.00	-9.9%
Net profit margin	14.31%	13.09%	+1.22 pp	13.24%	+1.07 pp
Tax as share of profit before tax	20.5%	25.7%	-5.19 pp	24.3%	-3.74 pp
EPS, basic (₹)	18.96	15.63	+21.3%	17.09	+10.9%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit grew almost twice as fast as revenue, and a lower tax rate supplied part of the growth. Revenue from operations rose 11.5% to ₹35,620 crore and net profit 21.2% to ₹5,132 crore. Profit before tax rose about 13% to ₹6,467 crore (derived), and tax fell to 20.5% of it from 25.7%; at last year's rate the quarter's tax would have been about ₹1,660 crore and profit about ₹4,800 crore, or 13% above last year (derived). The filing does not explain the lower tax rate.

Employee benefits expense rose 8.3% to ₹19,828 crore, slower than revenue, while outsourcing costs rose 19.4% to ₹5,344 crore. Finance costs were ₹194 crore, down 9.8% on the year but more than double the June quarter's ₹84 crore. Other income fell 43.6% to ₹234 crore. Against June revenue rose 3.0% and profit 10.9%. For H1 FY27 revenue from operations is ₹70,199 crore against ₹62,291 crore and profit ₹9,758 crore against ₹8,080 crore. The statement is in whole crore.

The board declared an interim dividend of ₹12 a share on shares of face value ₹2, with the record date on 16 October 2026 and payment on 26 October 2026. At about 270.7 crore shares (derived from profit and earnings per share) that is about ₹3,250 crore, about 63% of the quarter's profit (derived).

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	16,098.00	14,154.00	+13.7%	18,738.00	-14.1%
Revenue from operations	15,445.00	13,829.00	+11.7%	14,337.00	+7.7%
Other income	653.00	325.00	+100.9%	4,401.00	-85.2%
	4,302.00	2,657.00	+61.9%	7,025.00	-38.8%
Finance costs	59.00	78.00	-24.4%	45.00	+31.1%
Depreciation	526.00	560.00	-6.1%	529.00	-0.6%
Tax expense	763.00	1,262.00	-39.5%	960.00	-20.5%
Net profit margin	26.72%	18.77%	+7.95 pp	37.49%	-10.77 pp
Tax as share of profit before tax	15.1%	32.2%	-17.14 pp	12.0%	+3.04 pp
EPS, basic (₹)	15.89	9.81	+62.0%	25.96	-38.8%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent's profit is swung by other income. Standalone net profit was ₹4,302 crore, up 61.9% on the year but 38.8% below June, when other income was ₹4,401 crore against ₹653 crore now. Tax was 15.1% of profit before tax against 32.2% a year ago, so profit before tax rose about 29% (derived), and the filing text read does not describe the June other income or the tax rate.

Standalone revenue from operations rose 11.7% to ₹15,445 crore, 43% of the group's (derived), and earnings per share were ₹15.89 against ₹9.81.

Inference

HCLTech's profit growth of 21% is about twice its revenue growth, with a lower tax rate adding to a 13% rise in profit before tax.

The filing does not explain the tax rate or the standalone other income, and the dividend is a large part of the quarter's profit.

Reference: Original filing (PDF)

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