HCL revenue increases 11%

Infrastructure services revenue rose 19.7% to $84.5m

IT services provider HCL Technologies has reported a 9.3% decline in first-quarter net profit to $76.6m, compared to $84.5m in the year-ago quarter, on revenue up 11% at $511.5m. EBITDA grew 16.6% to $115m from $98.6m in the same quarter last year.

The India-based company said IT services revenue grew 10.5% to $447.9m, with core software services revenue increasing 8.5% to $363.4m, and infrastructure services revenue increasing 19.7% to $84.5m. BPO services revenue rose 14.8% to $63.6m.

Geographically, the US accounted for 59.8% of total revenue, Europe accounted for 27.1%, and Asia Pacific accounted for 13.1%.

During the quarter, the company won deals worth $1 billion and added 26 new clients The company also completed the $810.8m acquisition of UK-based SAP consulting company, Axon Group.

Vineet Nayar, chief executive at HCL Technologies, said: The last quarter has been significant for us. First, HCL has inked contracts worth $1 billion in the last quarter, the biggest in its history. Second, we have successfully integrated Axon as part of HCL to dominate the SAP space globally. Third, some of the world's most notable thought leaders have recognized the transformation of HCL, nominating us among 'the top 5 emerging companies globally to watch out'.

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