HCL Technologies revenue up 11 percent in Dec quarter

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Indian software major HCL Technologies said its revenue grew 2.4 percent sequentially and 11.4 percent year-on-year to Rs 10,3412 crore in for the second quarter in October-December 2015.

Revenue in constant currency is up 2.1 percent sequentially and 9.3 percent year-on-year.

HCL Technologies on Tuesday reported net profit of Rs 1,920 crore for second quarter of its fiscal 2015-2016, registering 11.2 percent growth sequentially but fractionally up 0.2 percent year-on-year.

The Noida-Delhi NCR based IT services company said net income for the quarter increased 10.3 percent sequentially to $291 million but declined 5.4 percent year-on-year, while revenue went up 1.4 percent sequentially and 5.1 percent year-on-year to $1.6 billion under the International Financial Reporting Standard (IFRS) or in dollar terms.

“Our performance in this (second) quarter continues to reflect the return from the investments we have been making. The return on equity for calendar 2015 at 29 percent has been amongst the best in the industry,” said HCL chief financial officer Anil Chanana.

Growth was broad-based across revenue segments, led by engineering and R&D (research and development) services at 23 percent, business services at 23.9 percent and infrastructure services at 16.4 percent on constant currency basis.

“Though we faced a challenging situation from Chennai floods in December, our resilient business models, business continuity and disaster recovery practices helped us face it well,” said HCL chief executive Anant Gupta.

The company added three $50-million clients, five each in $30-million and $20-million segment.

“As a company with corporate governance and robust financial performance, we create value for businesses we operate by being at the forefront of market dynamics,” said HCL Chairman and chief strategy officer Shiv Nadar.

The company booked business to the tune of $1 billion in total contract value, including eight transformational deals across service lines and industry verticals.

“As part of our enterprise blueprint, our investments and focus on aBeyond Digital, Next-Gen ITO and IoT works are enabling us to stay ahead of the curve and achieve a healthy business growth and financial performance,” Gupta added.

The company added (gross) 6,234 employees in second quarter against 7,889 quarter ago and 11,734 year ago, taking total headcount to 103,696, as against 105,571 quarter ago and 100,240 year ago.

HCL said attrition went up marginally to 16.7 percent on annualised basis from 16.3 percent quarter ago and 16.4 percent year ago.

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