Telecom Lead India: HCL Technologies’ revenue contribution from telecom segment decreased to 7.1 percent in Q3 2012-2013 from 8.6 percent in the same period previous fiscal.
HCL Technologies on Wednesday said its Q3 revenue increased 13.6 percent to $1.19 billion.
Net profit of HCL Technologies increased 59.2 percent to $193 million in the third quarter ended March 31, 2013.
Overall revenue from Europe and Americas grew 17.8 percent and 13.3 percent respectively, HCL Technologies said.
Across the board growth led by Infrastructure Services at 28.3 percent, Engineering and R&D Services at 8.7 percent, Enterprise Application Services 8.1 percent, Custom Application Services at 6.7 percent and BPO at 5.3 percent.
HCL Technologies also posted broad based growth led by Healthcare at 55.8 percent, Retail & CPG at 18.8 percent, Media Publishing & Entertainment at 14.7 percent and Financial Services at 10.8 percent.
Vineet Nayar, vice chairman, HCL Technologies, said: “The future of the IT services industry will lie in transforming traditional outsourcing models to higher value, innovation driven, non-linear and outcome based business models.”
HCL Technologies has won over $1 billion in large multi-year transformational deals. Over 90 percent of these deals are from rebid market and more than 50 percent are integrated deals
Dipen Shah, head of Private Client Group Research, Kotak Securities, said:
“HCLT’s results were marginally above our estimates. The 3.8 percent CC growth was encouraging. The company has been able to consistently demonstrate steady revenue growth and the margins have also remained at higher levels over the past four quarters.”
