HCL Tech revenue up 7.7% to $1,545 mn, net income dips 14.2%

HCL Technologies revenue for quarter ended Sept 2015
HCL Technologies today said its revenue rose 7.7 percent to $1,545 million in the first quarter ended September 30, 2015, while net income fell 14.2 percent to $264 million.

The IT services provider said growth in Engineering and R&D Services was 28.1 percent, Business Services at 23.4 percent, and Infrastructure Services at 17.9 percent.

HCL Technologies added one $50 million client, three $30 million clients and two $20 million clients in the first quarter.

“We have started FY 2016 on a strong footing with LTM revenue growth of 15 percent in constant currency. Our investments in BEYONDigital, Next-Gen ITO and IoT offerings is reflected in our healthy bookings and deal pipeline and continues to demonstrate our ability to incubate blue ocean ideas and build them to be market leaders,” said Anant Gupta, president & CEO, HCL Technologies.

HCL has won 10 transformational engagements during this quarter in excess of $1 billion in TCV.

The software exporter said its total employee count grew to 105,571 in September 2015 from 95,522 in September 2014. while attrition rate fell to 16.3 percent from 16.6 percent.

HCL Technologies said 58.7 percent (56.6 percent) revenue came from America, 31.7 percent (32.3 percent) from Europe and 11.4 percent from the Rest of the World.

HCL Technologies said 26.1 percent revenue came from financial services, 32.5 percent from manufacturing, 12.4 percent from life sciences and healthcare, 10 percent from public services, 8.8 percent from retail and CPG, 9.6 percent from telecom, media, publishing and entertainment and 0.6 percent from others.

HCL Tech acquires Concept to Silicon Systems

HCL Technologies signed a deal to acquire a Bengaluru-based privately-held engineering services firm, Concept to Silicon Systems (C2SiS).

C2SiS is empowering strategic change in a broad range of industries with its specialisation in system-on-chip and system design services and its client list includes Fortune 100 and Fortune 500 companies.

With this strategic acquisition, HCL will be able to leverage C2SiS’ technical prowess in areas such as System-on-Chip, Physical design and will further extend its leadership position in the semiconductor industry.

Arya MM
[email protected]