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- Published on July 14, 2025
- In IT Services
HCLTech Flaunts OpenAI Deal But Profits Tank 10% in Q1 FY26
This time, the firm reported nine exclusive generative AI deals, down from 12 in the last quarter.
- By Mohit Pandey
Despite doubling down on its generative AI narrative and forging a new partnership with OpenAI, HCLTech opened FY26 with a 9.7% drop in profit YoY, signalling that GenAI optimism has yet to translate into financial strength.
In Q1 FY26, the company reported a net profit of ₹3,843 crore, down from ₹4,257 crore in the same quarter of the previous year. Revenue from operations stood at ₹30,349 crore, showing little movement from the previous quarter’s ₹30,246 crore, but a 3.7% growth YoY.
This time, the firm reported nine exclusive generative AI deals, down from 12 in the last quarter.
While CEO C Vijayakumar said the company’s AI propositions are “resonating well” with clients and have been “augmented further by our partnership with OpenAI.” He claimed a 3.7% YoY
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Mohit Pandey
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.
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