By Sai Ishwarbharath B
(Reuters) – HCLTech, India’s third-largest software company, posted a smaller-than-expected December-quarter revenue on Monday, with clients holding back discretionary tech spending amid macroeconomic uncertainties.
The company’s consolidated revenue increased 5.1% to 298.9 billion rupees ($3.45 billion) in the third quarter, falling short of analysts’ expectation of 300.68 billion rupees, as per LSEG data.
India’s $254-billion IT services industry is usually on a weak footing in the December quarter as most clients scale down tech operations due to the holiday season in the United States and Europe.
($1 = 86.6770 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Eileen Soreng)
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