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HCLTech banking on improved utilization to uphold margin guidance amidst weak Q1 performance

  • HCLTech aims to maintain its FY24 full-year EBIT margin guidance of 18-19% through improved utilization following a lackluster Q1 performance.
  • The company reported a decline in headcount due to a strategic decision to not backfill all attrition believing it will aid their growth trajectory.
  • Despite revenue decrease and decline in the order book, CEO C Vijayakumar remains optimistic with a strong pipeline and anticipated good booking in the upcoming quarter.
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