MEDIA RELEASE PR41819
HCL Technologies Posts Strong Revenue Growth in 1st Quarter of FY 2011
SINGAPORE and NOIDA, India, Oct. 20 / PRNewswire-AsiaNet/ --
- Revenue at US$804 Million; up 27.6 % YoY & 9.0 % Sequentially
- APAC, Middle East, South Asia and ANZ Major Contributors to Growth
- ROW Business Grew by 58.6% YoY in July-September 2010 Quarter
HCL Technologies Ltd. (HCL), a leading global IT services provider, today
announced results for the quarter ended Sept 2010. In this 1st Quarter of FY
2010-11, HCL's global revenues increased by 9.0% sequentially and 27.6% YoY
to $804mn.
Rest of the world (ROW), which comprises of APAC, Middle East,
South Asia, ANZ and Africa, posted a strong revenue growth of 19.8% QoQ and
58.6% YoY. The quarter saw HCL winning engagements from across the APAC
region from Middle East to South East Asia and ANZ. The company's accelerated
growth in this region traversed service lines and different verticals
therefore ensuring a broad-based momentum.
Commenting on the results, Mr. Virender Aggarwal, Executive Vice
President for APAC & MEA, HCL Technologies said "The world economy is going
through dynamic change and emerging markets are opening up like never before.
HCL is strongly positioned in ROW to capture the growing prospects in this
market. Last quarter we won many key deals in this geography owing to our
transformational solution offerings. HCL has successfully executed its
'Go-To-Market' strategy that entails delivering end to end IT outsourcing
solutions and providing business transformational value to its customers. We
are highly committed to spread our footprint in the ROW and will continue to
enrich our end-to-end IT offerings for this market".
The key ROW highlights from this quarter include:
- South East Asia's (SEA) largest telecommunication company entrusted HCL
with implementation of their enterprise wide Data Warehousing system.
This is engagement marks a significant milestone in HCL's focus on the
telecommunication markets in Emerging geographies.
- Other strategic deals in this region included a seven year
Total IT Outsourcing Services agreement with Kingdom of Saudi Arabia
based Al Majdouie Group, a large IT Infrastructure services deal with
a Hong Kong based leading airline company for the roll out of
best-of-breed IT Operations Tools and an IT Infrastructure support
services contract with Australia's leading provider of general
insurance and reinsurance services.
- HCL also inked a deal with New Zealand Department of Corrections to
develop technology solutions for the country's prison system.
- The Harvard Business Press book "Employees First, Customers Second -
Turning Conventional Management Upside Down" authored by HCL
Technologies' CEO Vineet Nayar, was launched in Japan and talked
about widely by leading analysts and publications. The book,
available globally in English since June, is already being translated
into several languages, including Spanish, Portugese, Complex Chinese
and Korean.
Q1 FY 2010 -11 Financial Highlights for HCL Technologies
- Q1 Revenues at US$ 804 mn; up 9.0% QoQ; up 27.6% YoY
- Net Income at US$ 72 mn; up 7.9% YoY
- Revenue on constant currency basis up 28.5% YoY & 7.4%
sequentially
- Gross & Net Employee addition of 11,785 & 5,661 respectively
taking total headcount to 70,218
Q1FY 2011 Financial Highlights for ROW
- ROW posts 58.6% revenue growth in Q1 FY'11 over Q1 FY'10
- ROW posts 19.8% QoQ revenue growth for quarter ending September 2010
- The region contributes 15.3% to HCLT revenues
About HCL
HCL is a $5 billion leading global Technology and IT
Enterprise that comprises two companies listed in India - HCL Technologies &
HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage
start-ups, a pioneer of modern computing, and a global transformational
enterprise today. Its range of offerings spans Product Engineering, Custom &
Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems
Integration, and distribution of ICT products across a wide range of focused
industry verticals. The HCL team comprises over 72000 professionals of
diverse nationalities, who operate from 26 countries including over 500
points of presence in India. HCL has global partnerships with several leading
Fortune 1000 firms, including leading IT and Technology firms. For more
About HCL Technologies
HCL Technologies is a leading global IT services company,
working with clients in the areas that impact and redefine the core of their
businesses. Since its inception into the global landscape after its IPO in
1999, HCL focuses on 'transformational outsourcing', underlined by innovation
and value creation, and offers integrated portfolio of services including
software-led IT solutions, remote infrastructure management, engineering and
R&D services and BPO. HCL leverages its extensive global offshore
infrastructure and network of offices in 26 countries to provide holistic,
multi-service delivery in key industry verticals including Financial
Services, Manufacturing, Consumer Services, Public Services and Healthcare.
HCL takes pride in its philosophy of 'Employee First' which empowers our
70,218 transformers to create a real value for the customers. HCL
Technologies, along with its subsidiaries, had consolidated revenues of US$
2.9 billion (Rs. 13,145 crores), as on 30th September 2010 (on LTM basis).
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
Samrat Banerjee
Samrat.banerjee@hcl.com
+91-9711861058
SOURCE: HCL Technologies
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