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October 20, 2010

HCL Q1 revenue increases to $803.8m

Net income $71.8m, $0.41 per share

By CBR Staff Writer

HCL Technologies has reported total revenues of $803.8m for the first quarter of 2011, an increase of 27.6% as compared to $630.1m for the same quarter in 2009.

The company’s gross profits were $254.4m for the quarter as compared to $232.1m for the same period prior fiscal.

HCL has posted EBITDA of $130.8m for the third quarter as compared to $143.2m of Q3 FY09.

For the quarter ended 30 September 2010, the company has posted net income of $71.8m, or $0.41 per share, as compared to $66.5m, or $0.39 per share, for the same period last year.

HCL technologies CEO Vineet Nayar said they continue their growth momentum by posting another quarter of high sequential growth which is balanced across segments with 3 out of 7 verticals witnessing a double digit QoQ growth and all its business lines showing strong momentum.

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