SOURCE: HCL Technologies Ltd.

HCL Technologies Ltd.

January 17, 2012 10:30 ET

HCL Technologies Q2 2012 Revenues at US$ 1,022 mn, Up 18.7% YoY and 3.7% QoQ in Constant Currency

Americas Revenues Up 7.3% QoQ in Constant Currency

NOIDA, INDIA--(Marketwire - Jan 17, 2012) - HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the quarter ended December 31, 2011. In this 2nd Quarter of FY 2012, HCL's revenues reached US$ 1,022 mn, up 3.7% sequentially and 18.7%YoY in constant currency.

HCL's America business posted a revenue increase of 7.3% QoQ in constant currency.

Commenting on the quarterly results for the Americas, Dr. Shami Khorana, President, HCL Americas, said, "We are happy to report yet another quarter of strong revenue growth in a challenging economic environment. The numbers reflect a broad-based growth for the region as we continue to capture market share in almost all verticals led by healthcare and Financial Services. In this quarter we also hosted HCL's 6th Global Customer Meet in Orlando attended by nearly 1000+ senior business and technology executives from 400 global companies."

HCL Americas highlights for Q2 FY 2012:

  • HCL has been chosen by a US based Fortune 500 health care company to support its transition to ICD-10 diagnostic and procedure codes. The company will incorporate HCL's Proprietary ICD Crosswalk Mapping tool into its healthcare management portfolio to ensure a smooth transition from ICD-9 to ICD-10.
  • HCL has been chosen by a US based Fortune 500 software product company for a multi-year engagement to enable reporting capabilities for its Enterprise Services business. HCL was chosen over current incumbents due to its differentiated ability to deliver the project in a managed services mode.
  • HCL has bagged a multi-year, multi-million dollar deal from a leading US based industrial manufacturer to enable deployment of its multiple product categories onto an e-commerce platform.
  • HCL has won a deal from a leading Global Bank for development of a framework which will help the client in cross-leveraging content across repositories using the Enterprise Content Management and Portals platform.
  • HCL organized its 6th Global Customer Meet attended by nearly 1000+ senior business and technology executives from 400 global companies who gathered in Orlando from 13-15 November under the banner of "I Have An Idea". The Meet featured President Bill Clinton and Malcolm Gladwell, author of The Tipping Point and Blink as Keynote Speakers and covered a potent mix of topics ranging from astrophysics to cloud computing, from 'big history' to big data.
  • HCL Technologies received an IT Services Marketing Association (ITSMA) 2011 Diamond Award for marketing excellence in the "Building Client Loyalty and Trust" category in recognition of its Customer Advisory Council (CAC) - a global, collaborative forum where HCL's customers convene to exchange ideas and best practices.
  • HCL received the Hamilton Sundstrand Supplier of the Year Award in recognition of its efforts towards 'productivity savings and cost avoidance'. HCL has won this award for second consecutive year.
  • HCL announced a partnership with Apacheta Corporation, a leading mobile workflow application provider, to provide global delivery of mobile sales, delivery and merchandising solutions to the consumer goods industry. Through this partnership, HCL will provide value-added services to Apacheta's mobile applications folio, including consulting, application enhancements, and back-end integration with ERP systems, delivering a complete solution for consumer packaged goods (CPG) companies.

HCL Technologies - Financial Highlights

  • Q2 Revenues at US$ 1,022mn, Up 3.7% QoQ & 18.7% YoY in constant currency
  • Revenues Up 2.0% QoQ & 18.3% YoY on US$ basis
  • Net Income at US$ 112mn; up 25.6% YoY
  • Top 5 and Top 10 customers post sequential growth of 7.7% and 4.9% respectively
  • Gross Employee addition of 7,804 during the quarter taking total headcount to 83,076

Americas - Financial Highlights

  • Americas Constant Currency Revenues up 7.3% QoQ and 21,7% YoY

About HCL Technologies

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employee First, Customer Second' which empowers our 83,076 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 3.9 billion (18,334 crores), as on (on LTM basis). For more information, please visit

About HCL Enterprise
HCL is a $6.2 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing and a transformational enterprise, HCL's diverse range of hardware and software offerings span a wide array of focused industry verticals. The HCL team consists of 88,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. For more on HCL, please visit

Forward-looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes',' strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

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