HCL Technologies reports 32pc rise in Q1 profit

BANGALORE, INDIA: HCL Technologies posted a net profit Rs.1,873crore in the quarter ended September 2014 – which grew by 32 percent YoY and 2.1 percent sequentially. India's fourth largest software services exporter's Q1 net profit was Rs.1,416 crore last year.

The firm follows July-June as the fiscal year.

The company's business in Americas and Europe grew by 5.7 percent and 2.7 percent respectively.

HCL has signed 15 Transformational engagements with more than $1bn of Total Contract Value in this quarter. Broad-based bookings led by Global Infrastructure Services, Engineering and R&D Services, Application Services and the Digitalization suite across Software Product and Platform Engineering. Manufacturing and Consumer Services led the wins in verticals and US in geographies.

Growth witnessed across key service offerings led by Engineering and R&D Services at 8.1 percent, Enterprise Service Integration at 5.1 percent and Global Infrastructure Services Revenue at 5.2 percent QoQ. Retail & CPG growth was 15.8 percent, while manufacturing growth was at 5.3 percent and Financial Services at 3.0 percent.

“We have posted another healthy quarter of broad-based growth led by a revenue increase of 3.2 percent QoQ in constant currency. Our customer acquisition momentum continues with yet another billion dollar quarter driven by strong growth in Global Infrastructure Services at 16.9 percent YoY & Engineering and R&D Services at 14.1 percent YoY. We have also added 15 Fortune 500/Global 2000 clients this quarter,” said Anant Gupta, CEO, HCL Technologies.

“Going forward our investments will continue in the three strategic markets of ITO, Engineering Services Outsourcing and the emerging Digitalization space which will enable a continued balanced business portfolio performance for the company,” he added.