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HCL Technologies Annual Revenues Up By 24.1 % YoY
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Thursday, July 29, 2010:
HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the year and quarter ended June 30 2010. For the full year, HCL’s global revenues increased by 24.1% to $2.7bn.
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During the quarter, HCL posted strong growth with revenues increasing by 21.5% YoY to $738 mn.
Commenting on HCL’s RoW (Rest of World: APAC-MEA) results, Virender Aggarwal, Executive Vice President & Head of RoW Markets, HCL Technologies said, “RoW geography today contributes to more than 13% of HCL Technologies’ revenues. During the financial year 2010, our RoW business has posted an encouraging annual growth of 30.4 % on YoY basis. We signed some marquee deals in the region, riding successfully on the glocalized delivery model. As we step into the next financial year, we stay committed to growing substantially – both in terms of absolute figures as well as percentage contribution to HCL’s revenue base.”
The year witnessed HCL’s RoW operations, regionally headquartered out of Singapore, shifting to the next trajectory of growth with business flowing from new geographies including Africa, Middle East & Indonesia. Existing markets like Japan, ANZ and ASEAN also recorded a very healthy growth from the existing client base, and new significant customer engagements. The engagements include high-end consulting led partnerships, Enterprise Application Services, large Infrastructure Transformational engagements like the one signed recently with Singapore Exchange.
HCL AXON, a division of HCL Technologies, won the Frost & Sullivan Aerospace IT Solutions Provider 2010 award for its outstanding performance and industry contribution in the Aerospace & Defence industry in Asia-Pacific.
HCL also opened its regional headquarters for the Middle East in Dubai, UAE. This quarter, HCL won its first deal for the implementation of the Oracle E-Business Suite of applications for a Qatar based Group that provides trading, construction, manufacturing and industrial services.
HCL was chosen as the National System Integrator (NSI) for Array Networks, a global leader in secure applications delivery. HCL will be the tier-1 reseller in India and the SAARC countries.
CEO Vineet Nayar continued to articulate HCL’s innovative management philosophies through his new book titled, “Employees First, Customers Second,” which tells the story of how HCL turned conventional management thinking on its head to revitalize and transform performance in the age of Gen Y, social media, and increasing transparency between management and employees.
Q4 FY 2010 Financial Highlights for HCL Technologies
Revenue at US$ 738 mn; up 21.5% YoY and up 7.7% sequentially
Revenue on constant currency basis up 9.1% sequentially
Net Income at US$ 74 mn, up 6.9% YoY
Net headcount additions of 6,428 made taking total headcount to 64,557
Q4 FY 2010 Financial Highlights for RoW
RoW business posts 30.4% growth YoY in FY10 over FY09
RoW business posts 8.3% QoQ revenue growth for AMJ 10
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