HCL Tech beats Wipro to become the number 3 IT company

Bengaluru: HCL Technologies' revenues increased 2.7% in constant currency to $ 2.06 billion in the June quarter from the previous quarter, and 8.5% over the same period last year. Last year.

This is the second best performance among the best Indian IT companies. The turnover of TCS increased sequentially by 4.1%, that of Infosys by 2.3% and that of Wipro by 0.1%. YoY, TCS grew by 9.3%, Infosys by 6% and Wipro by 2.4%.

HCL net income increased 3.4% to $ 356 million from the previous quarter and 5.7% over the same period last year.

HCL surpbaded Wipro to become the third largest Indian IT firm. He had a minimal advance of about $ 30 million in the last quarter. But HCL added only $ 16 million in additional revenue in the June quarter, one of the weakest additions in the past five quarters.

The turnover of the banking and financial services industry fell by 1.4% during the quarter due to the insurection of some of its customers and the reduction in spending. outsourcing of some customers. Manufacturing and retail, CPG revenues also declined.

The company, however, maintained its target of 9.5% to 11.5% in constant currency for 2018-19.

HCL CEO C Vijayakumar said that HCL signed 27 transformational transactions during the June quarter, the highest in the company's history. The momentum has been driven by telecoms, financial services, distribution, CPG and energy and utilities. However, he did not call the total value of the contract signed agreements.

Although the Infrastructure Management Services segment has experienced moderate growth, Mr. Vijayakumar said the second half of the year is looking for the company while companies are modernizing their infrastructure.

Recently, HCL won a $ 500 million contract from its historic customer, Nokia, to transform and modernize its IT infrastructure and application landscape. HCL indicated that it will transition the services of four existing providers to establish an integrated framework for the design and delivery of IT services and will implement a transformation roadmap.

Its most recent growth engine, engineering services, grew 3.1% sequentially and 24.2% year-on-year. The company added 4,040 employees to bring the total workforce to 1.24 lakh employees.