Investors are watching HCL Tech closely after the company announced a major partnership with ASN Bank in the Netherlands to modernize and standardize its IT architecture. This deal is expected to have a significant impact on HCL Tech's growth in the Dutch banking sector.
The multi-year agreement will involve consolidating IT services, simplifying the vendor landscape, and building a future-ready organization. HCL Tech will support ASN Bank's enterprise applications and streamline services through a distributed delivery model to enhance efficiency and customer experience.
Sudip Lahiri, Executive Vice President and Head of Financial Services for Europe at HCL Tech, said, "We are set to deliver tangible impact and long-term value, laying the foundation for future-ready operations. Collaborating with ASN Bank marks a major step forward for HCL Tech as we grow our presence in the Dutch banking sector."
The company's net profit of Rs 4,235 crore was flat compared to the year-ago period. However, revenue from operations stood at Rs 31,942 crore, up 11% from the corresponding quarter of the last financial year.
The company expects revenue growth to be between 3% - 5% YoY in constant currency, while services revenue growth is expected to be between 4% - 5% YoY in constant currency. The Earnings Before Interest and Taxes (EBIT) margin is likely to remain between 17% - 18%.
Despite the positive news, HCL Tech's stock is down nearly 14% in 2025, making it one of the worst performers on the Nifty this year.
Remember, this is a perspective, not a prediction. It's essential to do your own research and consider multiple factors before making any investment decisions. The partnership with ASN Bank is a significant step for HCL Tech, and investors will be watching the company's progress closely.
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