HCL ends FY on a high, registers 14.2 per cent growth in revenue even as other IT companies struggle

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At a time when IT companies across the country are struggling, HCL Technologies Limited managed to register a 14.2 per cent growth during the FY 2016-17, giving hope to others. India’s fourth largest software services firm announced the results of the quarter ending March 2017 on Thursday.

HCL
HCL’s revenue for Q4 jumped 2% to Rs.12,053 crore.

Revenue for the quarter stood at Rs.12,053 crore, a 2 per cent increase Quarter-on-Quarter (QoQ). Net income for Q4 was Rs.2,325 crore, a 12.3 per cent increase QoQ.

HCL’s revenue for the year jumped to Rs.46,723 crore, a 14.2 per cent increase over the previous year. The net income for the year jumped by 15 per cent to Rs.8,457 crore.

In terms of dollar revenue, the company saw a 4.1 per cent QoQ growth, with Q4 ending with a revenue of $1,817 million. Dollar revenue for the FY saw an 11.9 per cent Year-on-Year (YoY) growth, as HCL ended the year with a revenue of $6,975 million.

The Board of Directors, buoyed by this performance have decided to provide a dividend of Rs.6 for each equity share of Rs.2. This will be paid for the FY 2017-18.

In terms of its geographical presence, Europe registered a 15 per cent growth YoY, followed closely by the Americas (14.8 per cent), with other areas seeing a marginal growth of 2.5 per cent.

The company had a mixed year in terms of growth in the services it offers, with Infrastructure services seeing a 27.4 per cent YoY growth. Business services provided by the company fell by 12.2 per cent, while the Engineering and R&D services saw a growth of 11.7 per cent over the year.

The quarter also saw robust hiring, with HCL adding 10,607 people to its rosters. The company has an overall strength of 1.15 lakh employees globally.

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