HCL topples Wipro to become 3rd big IT services firm
Team Udayavani, Jul 28, 2018, 4:51 PM IST
New Delhi: HCL Technologies has toppled Wipro to become the third-largest software services company in India in terms of dollar revenue, clocking a topline of $2.05 billion during the June quarter.
The IT services revenue of Wipro during the same quarter was $2.02 billion.
Tata Consultancy Services and Infosys are the two larger Indian IT services firms with revenues of $5.05 billion and $2.83 billion, respectively in the June 2018 quarter.
During the June 2018 quarter, HCL Technologies saw its net income grow 5.7% to $356 million, while revenue increased 9% to $2.05 billion compared to the same period last year.
In rupee terms, the company reported a 10% increase in consolidated net profit at Rs 2,431 crore for the first quarter ended June 30, 2018.
The company had posted a net profit of Rs 2,210 crore in the year-ago period (as per Indian Accounting Standards), HCL Technologies said in a BSE filing.
The company had posted a net profit of Rs 2,210 crore in the year-ago period (as per Indian Accounting Standards), HCL Technologies said in a BSE filing.
Its consolidated revenues from operations grew 14.2% to Rs 13,878 crore in April-June 2018 as against Rs 12,149 crore in the same quarter of 2017-18.
In dollar terms, the company’s net profit increased 5.7% to $356 million in the reported quarter, while revenues grew 9% to $2.05 billion.
The Noida-based company said it had witnessed broad-based growth driven by Technology and Services (36%), Lifesciences and Healthcare (10.2%), Financial Services (9%) and Retail and CPG (7%) on LTM (last twelve months) constant currency basis.
HCL Technologies said it signed 27 transformational deals during the quarter, led by strong momentum in telecom, financial services, retail – CPG and energy and utilities verticals.
“We achieved highest-ever bookings in this quarter led by our next-gen Infrastructure services as well as Mode 2 offerings. Our combined Mode 2 and 3 offerings contributed 26.6% of our revenues and it grew 9.6% quarter-on-quarter,” HCL Technologies President and CEO C Vijaykumar said.
The company will continue to invest in its next-generation portfolio to help enterprises build their digital future, he added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
India not reaping benefits of democratic dividend: Raghuram Rajan
Markets slump for third day on fears of escalating tensions in Middle East; IT stocks drag
Tesla is planning to lay off 10 of its workers after dismal 1Q sales, multiple news outlets report
With just Rs 150 base airfare take a 50-minute flight
Byju’s founder Raveendran to take over firm’s daily operations after CEO Mohan’s resignation
MUST WATCH
Latest Additions
Youth detained for Facebook threat to BJP MLA in Nashik
NE’s integration with rest of India happened under Modi govt: BJP chief Nadda
Congress spokesperson booked for alleged hate speech
BJP files complaint with EC against Sowmya Reddy, others for alleged violation of poll code
Siddaramaiah slams BJP candidate for visiting house of alleged police recruitment scam kingpin