BENGALURU, April 26 Reuters HCLTech, India39;s No.3 IT services player, reported a smallerthanexpected fourthquarter revenue on Friday amid decelerating tech spending among clients due to macrooverhang.

The company posted a 7.1 rise in revenue to 284.99 billion rupees 3.42 billion for the three months ended March 31, compared with average analysts39; estimates of 286.07 billion rupees, as per LSEG data.

The technology and services vertical fell 8.7 yearonyear, while healthcare and lifesciences vertical fell 1.

For the financial year 2025, the company forecast a revenue growth of 35.

As clients prioritise deals focussed on costcutting, they continue to hold back on nonessential spending such as cloud services, consulting and upgrading of existing software.

Additionally, an uncertain macroeconomic climate and geopolitical uncertainties have kept demand in India39;s 254 billion IT industry subdued.

Peers Infosys, Tech Mahindra, TCS, LTIMindtree analysts39; estimates, while Wipro estimates.

For the quarter, the company39;s net profit was flat at 39.86 billion rupees compared with the yearago period. Analysts, according to LSEG data, estimated a profit of 41.10 billion rupees.

HCLTech39;s new deal wins stood at 2.29 billion, compared with 1.93 billion in the previous quarter and 2.07 billion in the yearago period.

Operating margins came in at 17.6, down 50 bps due to higher wage costs.

1 83.3552 Indian rupees

Sai Ishwarbharath B; Editing by Sohini Goswami

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