HCL Technologies revenue surges 16% thanks to IBM unit acquisition

HCL Technologies reported revenue of $2.543 billion (+16.4 percent), EBIT margin of 20.2 percent and net income of $426 million during the December quarter of 2019.
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HCL Technologies revenue rose 12.9 percent in Americas, 21.4 percent in Europe and 27.3 percent in Rest of the World.

India-based HCL Technologies said its revenue rose 16.8 percent in Financial Services, 38.1 percent in Manufacturing, dropped 6.1 percent in Technology and services 16.9 percent in Retail & CPG, 13.6 percent in Telecommunication, Media, Publishing & Entertainment, 8.9 percent in Life Sciences & Healthcare and 31.3 percent in Public Services.

HCL Technologies’ revenue is expected to grow between 16.5-17 percent with operating margin of 19-19.5 percent during fiscal 2020.

“We continue our stellar performance over the years and have now crossed a revenue run rate of $10 billion this quarter. Our revenues have grown 16.4 percent and we have delivered a strong 20.2 percent EBIT,” said C Vijayakumar, president and CEO of HCL Technologies.

HCL Technologies said its total number of employees reached 149,173 during December quarter from 147,123 in the previous quarter. The number of technical employees at the IT services supplier has grown to 137,725 from 135,957.

HCL signed 12 transformational deals in Q3, led by industry verticals of Hi-Tech, Manufacturing and Financial Services.

HCL Software on-boarded more than 1,700 partners and completed over 5,000 total sales transactions. HCL announced the availability of HCL Digital Experience (DX) 9.5. It was founded on the former IBM WebSphere Portal and IBM Web Content Manager software. Organizations can use HCL DX to blend digital content, transactional applications and data in order to deliver to any digital touchpoint.

HCL completed the acquisition of Sankalp Semiconductor, an advanced technology design services provider offering digital and mixed signal System-on-a-Chip (SoC) services and solutions from concept to prototype, in the semiconductor space.

HCL filed eight patents this quarter in the areas of IoT, data processing, infrastructure, and software. HCL received six patents in Q3 in the areas of internet protocol assisting framework, instrument tracking, software development environment lifecycle, cloud computing, application development lifecycle and medical developments.

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