HCL Technologies net rises 25%

By siliconindia staff writer   |   Monday, 25 April 2005, 07:00 Hrs
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NEW DELHI: HCL Technologies Ltd., India's fifth- largest software developer, said third-quarter profit rose 25 percent after it added customers including Boeing Co. and won more orders from existing clients.

Net income, under U.S. accounting rules and translated into the local currency, rose to $35.9 million ( 1.57 billion) in the three months ended March 31 from 1.26 billion rupees a year earlier, the company said in a statement today.

HCL Technologies' operating margin, or the percentage of net sales left after subtracting production, marketing and other expenses, declined to 22.8 percent from 23.0 percent in the quarter ended December because of one-time charges due to donations. Its operating margin was at 20.4 percent in the three months ended March 31, 2004.

The U.S. contributed about 57 percent of HCL Technologies' total sales in the third quarter. HCL Technologies' third-quarter sales rose to 8.58 billion from 6.51 billion. The company added 18 clients in the period, taking the number of active customers to 489.

The company had 22,034 employees as of the end of March, having added a net 1,785 workers in the third quarter, compared with 1,775 in the quarter ended December. The company hired 1,122 employees for its software services business and 498 for its contact-center and transaction-processing unit.

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