HCL has reported revenues of $737.6m for the fourth quarter of fiscal year 2010, an increase of 21.5% compared to $607.2m for the same period prior year.
For the quarter ended June 30, 2010, the EBIT was $113.0m, a marginal increase of 3.3% as compared to $109.5m for the same period last year. Gross profit was $244.0m, compared to $228.6m for the same period last year. Gross margin was 33.1%, down compared to 37.6% for the fourth quarter of fiscal year 2009.
The company posted a net income of $73.6m for the fourth quarter of fiscal year 2010, an increase of 7% compared to $68.9m for the same period last year.
For the full year ended June 30, 2010, HCL reported revenue of $2.7bn, an increase of 24% as compared to $2.2bn in 2009. EBIT for the year was $445.5m, up 16.5% from $382.6m in 2009. Net income was up 6.1% to $280.6m from $264.4m in 2009.
Vineet Nayar, CEO of HCL Technologies, said: "HCL continues to demonstrate industry leading growth. Q4 2010 witnessed revenue growth of 7.7% quarter-on-quarter and 21.5% year-on-year basis. HCL closed the fiscal year 2010 with a growth of 24.1% on the back of 17.1% growth in fiscal year 2009.
"In the last 2 eventful years the Top Indian IT Companies added $2.9bn of incremental revenues. HCL contributed $844mn translating to 30% share of the incremental revenues. This has been made possible by our conscious and focused investment in employee and value centricity."
