HCLTech Reports Strong Second Quarter Driven by Record Deal Wins
Technology firm HCLTech announced a robust second quarter with record new contract wins totaling $3.3 billion and an improved EBIT margin of 18.2%.
New York and Noida, India – Technology services company HCLTech has reported strong financial results for its second quarter ending September 30, 2026. The company's revenue reached $3.7 billion, marking a 2.2% increase year-over-year. A significant driver of this performance was a record $3.3 billion in new contract wins, up 27% from the previous year, indicating robust demand for its services.
The company also saw improved profitability, with its EBIT margin rising to 18.2%, an increase of 131 basis points from the previous quarter. The services business demonstrated steady growth, up 3% sequentially across all verticals and geographies. HCLTech's rapidly expanding advanced artificial intelligence (AI) business achieved an annualized revenue run rate of $876 million, with AI services revenue growing significantly by 28.4% sequentially.
Growth in the services segment was led by IT and enterprise services, which saw a 4.4% year-over-year increase on a comparable basis, followed by engineering and R&D services growing at 2.1%. The retail and consumer goods sector, along with financial services, showed strong year-over-year growth. Regionally, the Indian market experienced substantial growth of 21.8%.
HCLTech also announced a global premier partnership with Anthropic to accelerate the adoption of AI agents in enterprises. The company has revised its full-year revenue growth forecast to 2.5%-4% and expects its EBIT margin to remain between 17.5% and 18.5%. A dividend of 12 rupees per share was also declared for the quarter.