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HCL to become the third largest Indian IT services firm as it overtakes Wipro

HCL to become the third largest Indian IT services firm as it overtakes Wipro

HCL Technologies’ revenues from operations have grown to 14.2 per cent to Rs 138.78 billion in April-June 2018 whereas it was Rs 121.49 billion in the quarter corresponding to 2017-18.

In dollar terms, the company’s net profit increased has grown to more than five per cent or exactly 5.7 per cent. It comes to $356 million in the reported quarter. The revenues grew nine per cent to $2.05 billion.

This way HCL Technologies has surpassed the other IT giant, the Wipro, which is known as the third largest IT in India. Wipro’s IT services revenues stood at $2.02 billion in the June 2018 quarter.

Hindustan Computers Limited is an Indian multinational technology company. The company operates from its offices in 39 countries which comprises the United States, France and Germany.

It operates in different spheres of day to day life including aerospace, defence, automotive, banking and capital markets. It also offers services to chemical and process industries, consumer goods, energy and utilities, healthcare as well as hospitality sectors.

HCL Technologies is also hopeful that its FY19 revenues will grow between 9.5 per cent to 11.5 per cent in recent times.

The HCL has declared a Rs 40 billion buyback programme for the current financial year at a price of Rs 1,100 per equity share.

The company has achieved highest bookings in this quarter due to next-gen Infrastructure services, HCL Technologies President and CEO C Vijayakumar has revealed.

The company will invest further in its next-generation portfolio to boost up enterprises build their digital future, it is said.

In this financial period, the company has signed 27 transformational deals, led by strong momentum in telecom, financial services, CPG, energy and utility verticals.

It has also witnessed to the broad-based growth driven by Technology and Services, Lifesciences and Healthcare, Financial Services and Retail and CPG on a constant currency basis.

The total workforce at HCL stood at more than 124000 at the end of June 2018. The company has declared a dividend of Rs 2 per share.

About Anirudh Singh

Anirudh Singh is a passionate blogger and the man behind Amazing India Blog. He has 5 years of experience in the newspaper industry and he founded Amazing India Blog in 2015. Apart from writing and editing articles on Travel, Business and Technology at Amazing India Blog, he also contributes to other well known newspapers and online news blogs.

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