HCL Technologies’ net profit rose 27% to ₹2,475 crore for the fourth quarter ended March 2017 from Rs 1,938.66 crore in the year ago quarter.
The Noida-based firm has provided a revenue growth outlook of between 10.5% and 12.5% in constant currency terms for FY2017-18. The firm’s total income grew over 20% to ₹13,183 crore in the quarter under review as per Indian accounting standards.
“We have posted a robust set of numbers,” HCL Technologies President and CEO C Vijayakumar said. “We are definitely doing very well in the next generation services, which includes digital, analytics, IOT, cyber security and cloud as well as products and platform… These registered a very impressive 31% growth in FY17. We continue to do well in traditionally IT services… but now we are being accepted as next generation services partner by our clients. That is what will help in the next level of growth.”
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Eight major deals
The company said it signed eight transformational deals during the quarter across service lines, verticals and geographies.
Asked about increasing global protectionism, particularly in the U.S., Mr. Vijayakumar said, “Right now we don’t see any thing concrete that has been formalised…But as such we are better prepared because we have invested in delivery centers, our dependence of visas is very low.” He added that for HCL Technologies more than 55% of about 12,500 workforce in the U.S. were locals. The U.S. market accounted for the largest chunk of the company's revenue at 62.6%.
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