HCL Tech net income up 5.9%

HCL Technologies has reported a 5.9 per cent increase in sequential net income for the fourth quarter ended June 30,2015, at Rs 1,783 crore.

Revenues for the IT company during the fourth quarter increased 5.5 per cent sequentially to Rs 9,777 crore, the company said.

During the quarter, HCL signed a deal to implement next-generation platforms across front, middle, and back office functions of one of the insurance companies in Asia.

The company also won a deal with a multinational financial services company, to develop digital security utility which will be leveraged globally, across their multiple lines of businesses, besides signing a deal with a B2B events business company to provide enhanced service offerings in digital engagement and media products.

“HCL has yet again posted a broad-based performance for the financial year, led by a robust revenue growth of 15.1 per cent LTM YoY, and 2.9 per cent sequentially in constant currency. All our verticals posted strong double-digit performance in FY15 and industry leading growth in the US and Europe with 14 per cent and 18.7 per cent LTM YoY constant currency growth respectively,” HCL Technologies President and Chief Executive Officer Anant Gupta said.

“FY15 also saw us signing 58 transformational engagements with more than $5 billion of total contract value, and emerging as the top placed Indian-origin provider in the first competitive report by an industry analyst on digitalisation,” Gupta added.