Outsourcing company HCL Technologies today said its Q3 revenue rose 1.3 percent quarter-on-quarter and 11.4 percent year-on-year to $1,745 million.
Net income of HCL Technologies reached $306 million, registering 1.6 percent growth quarter-on-quarter and 5.2 percent year-on-year.
HCL Technologies achieved revenue growth of 24.1 percent in Public Services, 22.7 percent in Retail & CPG, 14 percent in Lifesciences & Healthcare, 11.2 percent in Manufacturing, 9.7 percent in Telecommunications, Media, Publishing & Entertainment, and 5.4 percent in Financial Services.
HCL Technologies said the number of $5+ million clients increased by 14, $10+ million clients up by 8, $20+ million clients up by 13, $40+ million clients up by 9, $50+ million clients up by 5 and $100+ million clients up by 1.
HCL has extended its IP partnership with IBM to define the future roadmaps for additional products in the areas of Application security, B2B data transformation, Testing automation and Mainframe management tools. HCL has committed to invest $155 million in the extended partnership.
“The Mode 1-2-3 growth strategy is helping us gain a higher share of our clients’ wallet reflected in the increasing revenue contribution from our Top 5, Top 10 and Top 20 customers,” said C Vijayakumar, President & CEO, HCL Technologies.
HCL Technologies said its revenues from Fixed price / Managed services contracts increased from 61.3 percent to 63.2 percent this quarter further strengthening success in outcome based business model.
HCL Technologies Q3 revenue from Americas and Europe grew 15 percent and 10.5 percent respectively.
HCL Technologies said its revenue from Infrastructure Services was 24.6 percent, Engineering and R&D Services at 6.7 percent, and Application Services at 5 percent.
