India’s fifth largest software exporter focuses on providing software development services to corporate and technology clients. It reported year-on-year net income up 24% at $20.9 million on revenue up 27% at $123.9 million for the first quarter ended September 30, 2003.
It has already identified software product companies as its next acquisition targets and claims that it will hire 5,000 people for its software services division over the coming year.
Despite this focus on software services, the business’ BPO division is also to receive some investment, with a further 1,200 people hired for the division, over the coming financial year. HCL was sitting on $28 million in cash as of the end of the first quarter.
This article was based on material originally published by ComputerWire.
