MEDIA RELEASE PR40628
HCL Technologies Annual Revenues up by 24.1 % YoY; Quarterly Revenues up by 21.5% YoY and 7.7%
Sequentially; RoW Annual Revenues up by 30.4% YoY and Quarterly Revenues up by 8.3 % QoQ
NOIDA, India, July 29 /PRNewswire-AsiaNet/ --
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.
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
About HCL Technologies
HCL Technologies is a leading global IT services company, working with
clients in the areas that impact and redefine the core of their businesses.
Since its inception into the global landscape after its IPO in 1999, HCL
focuses on 'transformational outsourcing', underlined by innovation and value
creation, and offers integrated portfolio of services including software-led
IT solutions, remote infrastructure management, engineering and R&D services
and BPO. HCL leverages its extensive global offshore infrastructure and
network of offices in 26 countries to provide holistic, multi-service
delivery in key industry verticals including Financial Services,
Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes
pride in its philosophy of 'Employee First' which empowers our 64,557
transformers to create a real value for the customers. HCL Technologies,
along with its subsidiaries, had consolidated revenues of US$ 2.7 billion
(Rs. 12,565 crores), for the year ended on 30th June 2010. For more
About HCL
HCL is a $5 billion leading global Technology and IT
Enterprise that comprises two companies listed in India - HCL Technologies &
HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage
start-ups, a pioneer of modern computing, and a global transformational
enterprise today. Its range of offerings spans Product Engineering, Custom &
Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems
Integration, and distribution of ICT products across a wide range of focused
industry verticals. The HCL team comprises over 64,000 professionals of
diverse nationalities, who operate from 26 countries including over 500
points of presence in India. HCL has global partnerships with several leading
Fortune 1000 firms, including leading IT and Technology firms. For more
Forward-looking Statements
Certain statements in this release are forward-looking
statements, which involve a number of risks, uncertainties, assumptions and
other factors that could cause actual results to differ materially from those
in such forward-looking statements. All statements, other than statements of
historical fact are statements that could be deemed forward looking
statements, including but not limited to the statements containing the words
'planned', 'expects', 'believes', 'strategy', 'opportunity', 'anticipates',
'hopes' or other similar words. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties regarding
impact of pending regulatory proceedings, fluctuations in earnings, our
ability to manage growth, intense competition in IT services, Business
Process Outsourcing and consulting services including those factors which may
affect our cost advantage, wage increases in India, customer acceptances of
our services, products and fee structures, our ability to attract and retain
highly skilled professionals, our ability to integrate acquired assets in a
cost effective and timely manner, time and cost overruns on fixed-price,
fixed-time frame contracts, client concentration, restrictions on
immigration, our ability to manage our international operations, reduced
demand for technology in our key focus areas, disruptions in
telecommunication networks, our ability to successfully complete and
integrate potential acquisitions, the success of our brand development
efforts, liability for damages on our service contracts, the success of the
companies / entities in which we have made strategic investments, withdrawal
of governmental fiscal incentives, political instability, legal restrictions
on raising capital or acquiring companies outside India, and unauthorized use
of our intellectual property, other risks, uncertainties and general economic
conditions affecting our industry. There can be no assurance that the forward
looking statements made herein will prove to be accurate, and issuance of
such forward looking statements should not be regarded as a representation by
the Company, or any other person, that the objective and plans of the Company
will be achieved. All forward looking statements made herein are based on
information presently available to the management of the Company and the
Company does not undertake to update any forward-looking statement that may
be made from time to time by or on behalf of the Company.
For details, contact
Dhwani Tandon, HCL Technologies
Mob +91-9560913334
Email: Dhwani.Tandon@hcl.in
SOUREC: HCL Technologies
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