Profit at India's HCL Technologies Doubles

Indian software company HCL Technologies Ltd. announced today its profit in the most recent quarter doubled from a year ago, thanks to a slew of new outsourcing orders that more than offset the impact of a stronger rupee; these orders included a contract valued at more than $35 million from New Zealand dairy company Fonterra and multiyear and multi-services contracts from Italy's Alenia Aeronautica and imaging company Konica Minolta. HCL Technologies is India's fifth largest software exporter, with contracts world-wide. HCL's success in spite of a strengthened rupie comes from explording businesses outside the US: while US sales dropped from 58% to 54%, sales in Australia and New Zealand doubled. The company plans to spend $150 million in the current financial year to set up new centers and expand capacity, according to company president Vineet Nayar.

View: Full Story on SiliconValley.com

Report a problem with article
Previous Story

Former Adelphia Executives Report to Prison

Next Story

Microsoft Closes $6 billion Buyout of aQuantive

4 Comments

Commenting is disabled on this article.

:nuts:
HCL Enterprise is a leading Global Technology and IT enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. The 3-decade-old enterprise, founded in 1976, is one of India’s original IT garage start-ups. Its range of offerings span Product Engineering, Technology and Application Services, BPO, Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products. The HCL team comprises approximately 42,000 professionals of diverse nationalities, who operate from 17 countries including 300 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in

HCL Technologies is one of India’s leading global IT Services companies, providing software-led IT solutions, remote infrastructure management services and BPO. Having made a foray into the global IT landscape in 1999 after its IPO, HCL Technologies focuses on Transformational Outsourcing, working with clients in areas that impact and re-define the core of their business. The company leverages an extensive global offshore infrastructure and its global network of offices in 17 countries to deliver solutions across select verticals including Financial Services, Retail & Consumer, Life Sciences Aerospace, Automotive, Semiconductors, Telecom and MPE (Media Publishing & Entertainment). For the quarter ending 31st March 2007, HCL Technologies, along with its subsidiaries had revenue (TTM) of US $ 1.27 billion (Rs. 5675 crore) and employed 40,149 professionals.