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HCLT?s billion-$ leap

The January-March quarter of FY 06 has catapulted HCL Technologies into the league of companies with a billion-dollar run rate on an annualised basis.

india Updated: Apr 20, 2006 16:32 IST

The January-March quarter of FY 06 has catapulted HCL Technologies into the league of companies with a billion-dollar run rate on an annualised basis, with revenues of $251.51 million.

The revenues for this quarter stood at Rs 1,122 crore, up 30.7 per cent year-on-year with an EBITDA at Rs 249.8 crore, up 27.9 per cent, year on year. The net income grew to Rs 192.9 crore. This is a 22.7 per cent YoY growth. Sequentially, the revenues grew 6.4 per cent while EBITDA was up by 5.1 per cent. The net income saw a 6.5 per cent rise.
The company also declared a dividend of 200 per cent.

The quarter was also marked by the single-largest deal in Indian IT history — DSG international PLC.

“The billion-dollar-revenue rate is a clear outcome of the many large client wins we have witnessed over the last few quarters — a vindication of our transformation initiatives that have created strong value for our clients. Our balanced services portfolio is being recognised by clients,” Shiv Nadar, Chairman and CEO, HCL Technologies, said.

“Our focus on emerging services as a growth driver continues as we gain larger market share in these growth businesses and use them as a core strategy to drive mega deal wins. Emerging areas continued to be strong growth drivers, with infrastructure services growing by a robust 58 per cent YoY,” Vineet Nayar, President, HCL Technologies, said.