HCL Technologies posts 40 per cent revenue growth

Indian IT services firm HCL Technologies posts strong growth

Indian IT services company HCL Technologies announced annual results today showing a strong performance. Revenue was up 40 per cent on last year to 105.9bn rupees (£1.33bn), while net income climbed 13.6 per cent to 12.8bn rupees (£160m).

HCL also announced financial results for the quarter ending in June, with revenue up 34.7 per cent from last year at 29.1bn rupees (£373m), but only 1.6 per cent sequentially. However, net income is up 134.1 per cent from last year at 3.3bn rupees (£41m), and sequentially 51.3 per cent

HCL Technologies chief executive Vineet Nayar said: "We accelerated our investments in growth in enterprise application services, emerging geographies and new verticals. The early indicators of these investments are showing in our diversified business portfolio, improving market share and most importantly in employee satisfaction.”

HCL Technologies also increased its headcount, adding 3,475 employees this year, giving a total of 54,216.