Key figures

Axis Bank, total advances growth, second quarter of fiscal year 2027, year on year

23%stated by the chief executive; 19% excluding international-branch loans related to foreign currency non-resident bank deposits

HCL Technologies, growth guidance, fiscal year 2027

2.5% to 4%stated by the chief executive; margin guidance on earnings before interest and tax remains 17.5% to 18.5%

Wipro, expected revenue, third quarter of fiscal year 2027

$2.571 billion to $2.625 billionstated by the chief financial officer; IT services revenue was $2.61 billion in the second quarter

Tech Mahindra, margin target on earnings before interest and tax, full-year fiscal year 2027

15%stated by the chief financial officer; the company remains on track to achieve it

Axis Bank and HDFC Bank reported growth in loans and deposits

The chief executive of Axis Bank said total advances grew 23% year on year and 9% quarter on quarter in the second quarter of fiscal year 2027. Excluding international-branch loans related to foreign currency non-resident bank (FCNRB) deposits, the chief executive said advances grew 19% year on year and 5% quarter on quarter.
The chief executive of Axis Bank said total deposits grew 23% year on year on a quarterly average balance (QAB) basis.
The chief financial officer of Axis Bank said the bank expects its book growth rate to be 300 basis points above the industry average over the medium term. The bank kept its structural net interest margin (NIM), the gap between what a bank earns on loans and pays on deposits, guidance at 3.8%.
An executive at HDFC Bank said retail current and savings account (CASA) deposits grew 11.2% year on year in the second quarter of fiscal year 2027, versus 9% a year earlier. The chief financial officer said the bank aims to operate with a liquidity coverage ratio (LCR) of 110%-120%, compared with a current level of about 113%.

Indian IT companies set guidance for fiscal year 2027 and the next quarter

The chief executive of HCL Technologies said its fiscal year 2027 growth guidance is 2.5% to 4%, and its margin guidance on earnings before interest and tax (EBIT) remains 17.5% to 18.5%.
The chief executive of Wipro said IT services revenue was $2.61 billion in the second quarter of fiscal year 2027, flat sequentially and up 0.6% year on year in constant currency, which removes the effect of exchange-rate moves. The chief financial officer said Wipro expects third-quarter revenue of $2.571 billion to $2.625 billion.
The chief financial officer of Tech Mahindra said the company remains on track to achieve a 15% EBIT margin for full-year fiscal year 2027.

Several IT companies pointed to artificial intelligence

Tech Mahindra said it expects to introduce artificial intelligence (AI) revenue reporting in its disclosures for the second half of fiscal year 2027.
The chief executive of HCL Technologies cited record first-half bookings and strong Advanced AI demand.
The chief executive of Wipro described the US economy as very strong.

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