Plans to continue investments in new services, emerging markets, IT outsourcing and discrete services
HCL has reported revenues of INR30.31 billion for the first quarter of FY 2010, an increase of 28.9% compared to INR23.52 billion for the same period prior year. Revenues grew 4.2% sequentially.
For the quarter, the EBIT was INR5.47 billion, an increase of 29.4% compared prior year quarter and increase of 4.3% sequentially. Forex loss was INR1.51 billion compared to INR0.8 billion for the first quarter previous year.
Gross profit was INR11.17 billion, an increase when compared to INR9.16 billion for the first quarter ended in 2009. Gross profit margin was 36.8%, a decrease when compared to 38.9%.
The company posted a net income of INR3.2 billion or EPS of INR19.3 for the first quarter of fiscal year 2010, a decrease of 10.1% compared to INR3.56 billion or EPS of INR21.1 for the same period last year. Net income before Forex losses were INR4.7 billion, an increase of 7.9% compared to 4.3 billion for the same period last year.
The software services revenues were INR21.59 billion, an increase of 25.8% compared to INR17.16 billion for the same period last year. Software services revenues increased 2.1% sequentially. Infrastructure services revenues were INR5.89 billion, an increase of 58.9% compared to INR3.71 billion. BPO services revenues increased by 6.6% to INR2.83 billion from INR2.65 billion.
Vineet Nayar, CEO of HCL Technologies, said: “We have accelerated growth in Infrastructure Services, Custom Applications, Telecom, Media, Retail and Financial Services besides gaining market share in US and Europe.
“This reaffirms our leadership in these markets and further strengthens our momentum of a broad based growth. We continue our investments in new services, emerging markets, best in class discrete services and Total IT outsourcing coupled with our focus on employee engagement and customer satisfaction which has stood us well.”