 "Shiv Nadar")
India’s fourth largest IT services player, HCL Technologies, on Thursday, reported a consolidated profit after tax (PAT) of Rs 1,953 crore for the quarter that ended March a growth of 14.4% year on year. In the December quarter, the company managed a PAT of Rs 1,920 crore.
“Our investments in BEYONDigital, IoT WoRKS and Next–Gen ITO helped us close FY'16 year with a robust growth of 11.6% LTM YoY in constant currency. This nine month financial year, we signed 25 transformation deals with more than $four billion of TCV. Our quality of revenue, coupled with best–in–class delivery and DryICE automation platform, enabled us to consistently increase our revenue per employee ahead of the industry. We have significantly enhanced our strengths in new age services and domain leadership through strategic client acquisitions,” said Anant Gupta, President & CEO, HCL Technologies Ltd.
Revenue at HCL's infrastructure services business grew 3.9% in constant currency during the quarter, while revenue in the engineering and R&D services business grew 1.9% during the quarter.
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The Noida-based firm had posted a net profit of Rs 1,683 crore in the corresponding quarter last fiscal, HCL Technologies said in a statement. The company follows the July-June fiscal. Its revenue for the reported quarter was up 15.4% at Rs.10,698 crore, from Rs.9,267 crore in the same period a year ago. The company's total headcount was recorded at 1,04,896 employees as of March end as against 1,04,184 people in March last year.
The company won eight deals of more than $100 million plus, during the quarter as compared with seven similar deals in corresponding quarter last year. In dollar terms, the company’s net profit grew 5.5% to $285.1 million while revenue rose 6.5% to $1.58 billion in the third quarter of 2015-16 from the year-ago period.
According to Gupta, the company’s revenue grew by 11.6% largely propelled by Americas which grew by 14.4% the highest for any company, the company claimed. Its other sectors such as Europe grew by almost 10% and rest of the world (excluding India) grew by 3.2%.
The company said that it has signed large transformational contracts with a Fortune 50 Aerospace & Defense Company to provide SAP transformational and modernization services which will solidify the client's global implementation program, develop and enhance the client's SAP competency center, and expand the center of excellence whose reach will encompass and support all the client's SAP programs.
HCL signed a significant IT outsourcing deal with the Volvo Group and also acquired Volvo's external IT business, adding 40 new customers and 2,500 highly skilled professionals to its portfolio, further enhancing its market leading position in Continental Europe, and automotive & manufacturing verticals.
Expanding its network of global delivery centres to the Baltics region, HCL added another integrated delivery centre in Tallinn, Estonia. The centre will specialize in cutting-edge Strengthening its global engineering and R&D services practice, HCL signed a definitive agreement to acquire all of the business of Geometric Limited. The acquisition strengthens HCL's presence significantly in the PLM consulting as well as mechanical and manufacturing engineering space. It also enhances HCL's automotive and industrial practices, digital and transformational IT services for customers across Continental Europe.
