HCL Tech Q4 profit up 67 percent on more deals, margins

Summary:India software services exporter posts 67.3 percent rise in fourth quarter net profit to 8.54 billion rupees (US$151 million) from last year, after winning more outsourcing orders and increasing profitability.

India software services giant HCL Technologies has reported a 67.3 percent year-on-year rise in fourth quarter net profit of 8.54 billion rupees (US$151 million). This was on the back of a 37.7 increase in revenue at 59.2 billion  rupees (US$1.05 billion) for the same period.

In a statement Wednesday, HCL noted that it had "continued to demonstrate its ability to navigate through economic turbulence and grow profitably by executing well."

For the three months ended June, the company said it had signed eight multi-year, multi-million transformational deals, while in entire financial year, it won 52 transformational deals.

"Infrastructure management services crossed a billion dollars in revenues this year, demonstrating our
ability to incubate blue ocean ideas and build them to be market leaders", said Vineet Nayar, CEO and vice chairman of HCL Technologies.

Year on year, HCL noted that growth was led by infrastructure services at 21.5 percent, followd by engineering and R&D services at 20.5 percent. In terms of sectors, healthcare led at 29.2 percent ahead of manufacturing at 23.9 percent.


 

Topics: Tech Industry, India, Outsourcing

About

Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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