Net income up 39.2% on year ago quarter
HCL has reported revenues of $864.1m for the second quarter of FY 2011, an increase of 32.6% compared to $651.7m for the same period prior year and an increase of 7.5% sequentially.
For the quarter ended 31 December 2010, the EBIT was $113.5m, an increase of 5.1% compared to $108m for the same period last year and an increase of 9.5% sequentially.
Forex loss was $3m, compared to $27m for the second quarter previous year.
Gross profit was $272.7m, compared to $232.5m for the same period last year; and gross profit margin was 31.6%, down compared to 35.7% for the second quarter of FY2010.
The company posted a net income of $88.8m for the second quarter of FY2011, an increase of 39.2% compared to $63.8m for the same period last year.
The consolidated IT services revenues were $814.6m, an increase of 37.1% compared to $594.1m for the same period last year.
BPO services revenues were $49.5m, a decrease of 14.1% compared to $57.6m, while it increased 2.9% sequentially.
HCL Technologies CEO Vineet Nayar said the dynamic demand environment necessitates a sharp focus on innovation and tangible value generation for customers.
"This is evident from our continued robust performance in CY10 with HCL exceeding $3bn in revenue, posting 26% YoY growth and a four quarter CQGR of 7.3%," Nayar said.
"We also continued to register impressive win ratios and superior customer acquisitions with 50+ transformational deals signed during the year."