The Hindu Business Line : HCL Tech net income rises 58 per cent

HCL Technologies Ltd has reported a 58 per cent rise in net income at Rs 286.2 crore for the quarter ended December 31, 2006, against Rs 181.1 crore in the corresponding quarter last fiscal. The company's revenues went up 39 per cent to Rs 1,465.1 crore for the quarter, from Rs 1054.2 crore during the corresponding quarter last fiscal.

The company announced a 1:1 bonus issue for the quarter. It also announced an interim dividend of 200 per cent.

During the latest reported quarter, the company increased its head count by 1,865, taking the total employee strength to 38,317 as on December 31. New business deals contributed to 12 per cent of revenues during the quarter.

"The transformation strategy that HCL has set in motion has delivered consistent growth in all key financial and operational metrics for the last several quarters," said Mr Shiv Nadar, Chairman and CEO, HCL Technologies.

The revenues for the IT services' segment stood at Rs 1279.2 crore against Rs 920.3 crore, registering a growth of 39 per cent during the quarter. The BPO services' revenues grew by 38.9 per cent to Rs 185.9 crore from Rs 133.9 crore in the corresponding quarter. Revenue for the core infrastructure segment was up 70.8 per cent from Rs 120.2 crore to Rs 205.3 crore. In the core software domain, the revenues rose 34.2 per cent to Rs 1,073.90 crore, from Rs 800.10 crore.

"The last four quarters have seen a sequential growth of 6 per cent, 9 per cent, 11 per cent and 10 per cent in IT services, core software and infrastructure services respectively. The Skandia deal is another proof point of our leadership in value-centric multi-service multi-million dollar deal," said Mr Vineet Nayar, President, HCL Technologies.

In the BPO space, the quarter witnessed an increase in its employee strength by 1,069, taking it to 12,181.

"The quarter has been marked by our foray into the insurance domain with UK and US based insurance companies, and a major deal win from a leading media corporation in the UK for high value customer services process. HCL BPO's unique partnership model is also gaining recognition as we won the Irish Contact Centre award for `Best New Service'," said Mr Ranjit Narasimhan, Executive Vice President, HCL Technologies and Head of HCL's BPO operations.

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