HCL Tech Q1 YoY net up 49% to Rs 250cr

BS 200 Scorecard

According to a release issued by the company, revenues increased 42.1% to Rs 1,379.50 crore from Rs 970.70 crore in Q1FY06.

HCL Technologies chairman and chief executive officer Shiv Nadar said: "The growth vindicates HCL's emphasis on large multi-service deals which are starting to pay off."

HCL had recently entered into a $70 million multi-service outsourcing deal with supplier of automatic test equipment Teradyne and another multi-million deal with global supplier of end-to-end solutions of wireless communications networks.

Nadar said the company's growth was broadbased and has emerged from HCL's wide range of service.

"HCL's talent base, strong multi-service positioning with customers and our investments in creating future momentum better for the year ahead," he added.

The overall core software and infrastructure services rose by 11 per cent sequentially and the revenue growth in the quarter was at 43 per cent year-on-year.

The infrastructure and core software unit added 446 and 1,611 people respectively in the first quarter.