HCLTech misses fourth quarter revenue estimates on low spend
India's HCLTech reported a 12.3% rise in quarterly revenue to 339.81 billion rupees. This fell short of analyst expectations due to geopolitical headwinds.
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BENGALURU — HCL TECHNOLOGIES LTD reported fourth-quarter revenue that fell short of market expectations on Tuesday, as global clients reduced their technology expenditures in response to geopolitical headwinds. The company, which is a major player in the IT services sector within India, faced a challenging environment during the final quarter of the fiscal year.
