HCL Tech revenue slips in Q1, retains weak FY25 projection
At India’s third-largest IT services company, June quarter revenue fell 1.9% sequentially to $3.36 billion, in line with expectations of analysts polled by Bloomberg. The Noida-headquartered company attributed the muted performance to weakness in its automotive business. “The decline in ER&D (engineering, research and development) is due to an unexpected softness in automotive clients, which