HCL Technologies records higher than expected revenue

HCL Technologies records higher than expected revenueIndia's IT major, HCL Technologies has recorded higher than expected growth in its revenues during the third quarter of the year.

HCL Technologies recorded strong growth in the infrastructure management services (IMS) segment, which more than compensated for the slow growth in the IT services market. The company was able to record higher growth in the quarter mainly due to new deals and improved operating margins.

The company has been focusing on service line in previous few years and it has recorded higher growth in the infrastructure management services segment compared to traditional IT applications and development services.

HCL Technologies generated more than 30% of revenue from infrastructure related services during the quarter till March 2013 compared to a contribution of 24 per cent in the same quarter of the previous year. The company's infrastructure related services division has grown 8-10 per cent in the few years while the traditional software services have grown just more than 1 per cent.

"Our growth has been volumes-led, thanks to our continued focus on IMS and the rebid market, which yielded deals worth $1 billion in the quarter. HCLT revenue grew by 2.4% QoQ (quarter-on-quarter) to Rs 6,425 crore for Q3FY13 in rupee terms, whereas revenue in (US) dollar terms grew by 3.2% QoQ to $1,191million," said R Srikrishna, corporate vice-president for infrastructure and healthcare services at HCL Tech.

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