Don't see major impact on March quarter biz due to coronavirus: HCL Tech

March 30, 2020 14:10

HCL Technologies on Monday said it is not expecting any significant impact on business in March quarter on account of the coronavirus outbreak, and that booking during the period has largely been "on track" with significant part of closures happening in January.

HCL Tech said it had invoked the 'Business Continuity Plan' and 'Risk Management Framework' quite early to minimise the impact on its employees and clients, and added that its exposure to the more-impacted verticals is "not significant".

"While the impact on this quarter's numbers is yet to be quantified, we don't expect it to be significant. Our exposure to the more impacted verticals are not significant. Booking during this quarter has largely been on track as significant part of closures happened in January," HCL Tech said in a statement on the likely impact on business.

The company said its business model is a healthy mix of recurring product revenues, managed services and discretionary spend-led professional services, and that its exposure to verticals like Oil and Gas, Travel and Hospitality, High-End Retail is in single digit. -- PTI

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