The Telegraph
Friday , January 17 , 2014
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Europe role in HCL profit

Jan. 16: IT services company HCL Technologies today posted a 58.4 per cent rise in profit for the quarter ended December 31, aided by a growth in Europe and contracts won in financial services, infrastructure and manufacturing.

The Noida-based company revenue crossed $5 billion in 2013, a first for the company.

HCL’s profit rose to Rs 1,496 crore in the second quarter ended December 31 from Rs 944 crore in the year-ago period.

The company follows a July-June financial year.

Consolidated revenue rose 30.4 per cent to Rs 8,184 crore from Rs 6,278 crore.

In July-September, the company had reported a profit of Rs 1,416 crore and revenue of Rs 7,961 crore.

“In calendar year 2013, we crossed the $5-billion mark and three of our businesses grew over $1.5 billion mark,” HCL Technologies president and CEO Anant Gupta told reporters here.

Infrastructure and manufacturing services each crossed the $1.5 billion mark, as did the European business.

iGATE revenues

iGATE Corp today reported a 35.5 per cent surge in net profit for the year ended December 31 at $129.8 million against $95.8 million in the previous year.

Full-year revenues rose 7.2 per cent to $1.15 billion from $1.07 billion.

It reported a gross margin of 39.3 per cent, slightly lower than the 39.5 per cent last year.

Net income in the fourth quarter rose 7.5 per cent to $33.1 million from $30.8 million in the year-ago quarter.