HCL Technologies Q1 revenue up 14.1 percent to $1.27 billion

HCL Technologies on Thursday its first quarter revenue rose 14.1 percent to $1.27 billion.

Net profit of HCL Technologies increased 42.8 percent to $226 million.

Financial services contributed 26 percent revenue.

Manufacturing contributed 33.3 percent revenue to HCL Technologies.

Contribution of Lifesciences & Healthcare business was 11.6 percent.

Revenue contribution from Public Services was 7.8 percent, HCL Technologies said.

Telecommunications, Media, Publishing & Entertainment contributed 9.1 percent and Retail & CPG 8.3 percent to HCL Technologies revenue in the first quarter ended 30 September 2013.

HCL Revenue

HCL Technologies total head count increased to 87,196 after a net addition of 1,691.

“Our focus on Generation 2 propositions like Enterprise of the Future in TMITO and ALT ASM in Application Services continues to drive the company’s quality of revenue,” said Anant Gupta, president and CEO, HCL Technologies.

Dipen Shah, head of Private Client Group Research, Kotak Securities, said: “HCLT’s results surprised positively on margins, while revenues were almost in line with market estimates. The improvement in margins was surprising, especially the savings in G&A expenses. Revenue growth, once again, came in pre-dominantly from the Infrastructure Management business. The company will have to improve the growth rates in the IT services business to sustain and improve the growth rates in overall revenues, going ahead.”

HCL Technologies quarter-on-quarter growth

Revenue grew by 3.6 percent.

ROW, Europe and Americas grew 8.5 percent, 1.0 percent and 4.0 percent respectively.

Infrastructure Services continued to lead with growth at 8.8 percent, followed by Business Services at 1.7 percent, Engineering and R&D Services at 1.5 percent and Application Services at 1.1 percent respectively.

Growth led by Existing Momentum Verticals of Financial Services & Manufacturing at 6.9 percent and 5.4 percent respectively and Emerging Momentum Verticals of Lifesciences & Healthcare and Public Services at 6.5 percent and 3.1 percent respectively.

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