IT service provider HCL Technologies (HCL) on Friday announced a 16.7 per cent jump in net income for the quarter ended September 30, 2016, at ₹2,014 crore, up from ₹1,726 crore during the same quarter of the previous fiscal.

More than 17.9 per cent year-on-year (YOY) growth has been seen by the company’s business in the Americas, while European operations have witnessed a 7.3 per cent (YOY) increase.

HCL also announced that C Vijayakumar, who was elevated to the position of Chief Operating Officer in July this year, was being promoted to the position of President and Chief Executive Officer (CEO) of the company with immediate effect.

Anant Gupta, who was the CEO of the company till now, “has transitioned to pursue personal interests,” the company said in a statement.

Shiv Nadar, Chairman and Chief Strategy Officer of HCL Technologies, said: “Vijay has been a transformational leader in the company leading from the front. His vision and flawless execution track record best positions him for taking our journey forward. I wish him all the very best.”

The result pushed the company’s scrip up by 1.94 per cent on the Bombay Stock Exchange to close at ₹831.05 a piece.

Acquisition in the US Meanwhile, the company announced in another statement that it will acquire Butler America Aerospace for $85 million in cash.

“Butler Aerospace serves customers primarily in the Aerospace and Defence industries in the US, to whom it provides engineering and design services in the areas of mechanical and structural design, electrical design, tool design and after-market engineering services,” HCL said in the statement.

The company said Butler Aerospace had revenues of $85.4 million for the year ending December 31, 2015.

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