Q2 Call: HCL Technologies Expects A 210 bps Hit On Its Revenue

India’s fourth ­largest information technology outsourcing company HCL Technologies said on Tuesday that it expects a strong dollar to adversely impact its revenue in the second quarter ending December 2014.

“Looking at the performance and numbers of HCL and TCS in this quarter,Greyhound Research believes that the revenues for the October ­December quarter will be adversely affected for other IT companies as well. Also, US general elections, which were conducted in November, resulted in many companies going slow on projects. The banking industry in the US has been affected and the BFSI in the UK is also weak due to softness in insurance,” said Sanchit Vir Gogia, group CEO, Greyhound Research.

He added companies like TCS and Tech Mahindra that have high exposure to Europe and Japan will be adversely affected.

To read the Full Article, click here: The Economic Times

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s