HCL Tech revenue up by 40 percent in FY 09

HCL Tech revenue up by 40 percent in FY 09

By SiliconIndia   |   Tuesday, 25 August 2009, 03:57 Hrs   |    6 Comments
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HCL Tech revenue up by 40 percent in FY 09
Bangalore: HCL Technologies has recorded a growth of 40 percent in its net sales to 10,592 crore for year ending June 30, 2009 against 7,562 crore in the previous fiscal. The net income of the company went up by 13.6 percent to 1,278 crore against 1112 crore.

HCL has also announced the results for the quarter ended on June 30, 2009. The net sales went up by 34.7 percent to 2908 crore against 1899 crore for the quarter ended on March 31,2009. The net income of the company went up by 134.1 percent year-over-year (YOY) to 330 crore against 112 crore. The net profit went up by 26 percent to 192.9 crore against 152.5 crore.

Commenting on the results, Vineet Nayar, CEO, HCL Technologies says, "The past year has been remarkable for us. We have posted industry leading growth while expanding margins at the same time. We accelerated our investments in growth in enterprise application services, emerging geographies and new verticals. The early indicators of these investments are showing in our diversified business portfolio, thought leadership and improving market share and most importantly in employee satisfaction."

HCL Technologies is an information technology (IT) services company providing software-led IT solutions, remote infrastructure management services and business process outsourcing (BPO) services. Following the result, the HCL stock on BSE (Bombay Stock Exchange) was trading at 306, up by 16.95 (5.62 percent).

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Reader's comments(6)
1: So, you see like HCL all the IT companies are making profit. However they would like to tell that we are under pressure to cut cost. As the way other company cutting cost by lay off, cut in salary.. But how long, we all know that we are coming out of slowdown soon..When you are making less profit, you cut down employee salaries, variable pay etc.. And when you make profit you forget the employee who work day and night to make you profitable.

So all the IT companies can start rethinking on their cut cost policies. You can not make profit for long with the dissatisfied employee working for you.. Hope you also pass on the profit to the employee..
Posted by:someone - 25 Aug, 2009
2:
@someone
Dear someone,
Let me remind you something that we are coming out of slowdown but not yet recovered fully from it. That's the one thing, other part is that when you know how recession can cost you a job, it's better to analyze the cause rather than playing a blame game.
One request to every IT employee, please concentrate more on work rather than on finding problems in the job.

Cheers,
A Friend
Friend Replied to: someone - 25 Aug, 2009
3:
Rubbish..... what is the outcome of concentrating more on work, that will be 25%cut, on-bench or fired.
Unknown Replied to: Friend - 26 Aug, 2009
4:
Hi Boss...

This profit is not by your r companies excellemt performance..
i feel this is because of the companies bloody rules like
cutting 25% salary of employees on bench, and firing of the employees who are on bench for more than 1.5 months..
harry Replied to: Friend - 26 Aug, 2009
5:
You seems to a dog hired by an IT organization. Its only you people for which the whole industry have to pay. Ask the people who lost the job in this slowdown. n now when u r marking money, don't don't care abt ur employees.
Raj Chaudhary Replied to: Friend - 25 Aug, 2009
6:
Great kick Raj to Friend!
Mukund Replied to: Raj Chaudhary - 26 Aug, 2009
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