HCL Technologies revenue up 11.5% in Q2 FY 2017

HCL Technologies said its Q2 fiscal 2017 revenue reached $1,722 million (+1.9 percent q-o-q and +11.5 percent year-on-year). Net income of HCL Technologies was $301 million (-1.3 percent q-o-q and +14.2 percent year-on-year).

HCL Technologies said it achieved growth across verticals driven by Public Services at 25.0 percent, Retail & CPG at 21.6 percent, Lifesciences & Healthcare at 15.9 percent, Telecommunications, Media, Publishing & Entertainment at 14.9 percent, Manufacturing at 7.1 percent, and Financial Services at 5.3 percent.

HCL and IBM extended their strategic IP–partnership to cover API/web service enablement for mainframes. HCL will be investing ~$55 million in this partnership.

HCL Technologies is expecting revenue growth of between 12.0 percent to 14.0 percent in constant currency during fiscal 2017.

The IT company achieved broad based growth across all revenue segments with 14.9 percent growth in Americas and and 8.2 percent growth in Europe.

HCL Technologies’ revenue growth was driven by Infrastructure Services at 21.4 percent, Engineering and R&D Services at 5.7 percent, Application Services at 4.7 percent, and Business Services at 2.5 percent.

“HCL continues to be the partner of choice for the 21 Century Enterprise through our differentiated strategy encompassing core services, integrated next–generation offerings and platforms, in–line with our Mode 1-2-3 growth strategy,” said C Vijayakumar, president and CEO of HCL Technologies.

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