Aided by growth in European demand and new contracts won in financial services, infrastructure and manufacturing, country’s fourth- largest information technology (IT) services company, HCl Technology’s revenue crossed $ 5 billion in 2013. Company’s net profit also surged by 58.4 per cent in the quarter ended December 31 to Rs 1,496 crore as against Rs 944 crore in the same quarter last fiscal.
Consolidated revenue increased 30.4 per cent to Rs 8,184 crore from Rs 6,278 crore. In the July-September quarter, the firm had reported a profit of Rs 1,416 crore and revenue of Rs 7,961 crore. “Again, a good performance in the quarter. In calendar year 2013 we crossed the $ 5 billion mark and three of our businesses grew over $ 1.5 billion mark,” HCl Technologies President and CEO Anant Gupta told reporters here.
Infrastructure and manufacturing services each crossed the $ 1.5 billion mark, as did the Europe business, he said. Company’s Chairman, Shiv Nadar said, “As a company HCl has always differentiated itself on two key pillars, corporate excellence and governance and trust through transparency and flexibility. Our sustained efforts in these areas continue to be recognised.”
In dollar terms, profit rose 39.1 per cent to $ 242 million in the quarter from $ 174 million a year earlier. Revenue climbed 14.5 per cent to $ 1.32 billion. In the July-September quarter, HCl reported a profit of $ 226 million and revenue of $ 1.27 billion.Company signed 15 deals across services, with infrastructure constituting half.