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HCL Tech becomes India’s third biggest IT services firm

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Achieving a top line revenue of $2.05 billion during the quarter of the June, HCL Technologies putting down Wipro has come up as the third-largest software services company in India in terms of dollar revenue. As per our news sources, the revenue of Wipro during the same quarter was $2.02 billion which was lesser than that of HCL Technologies.

Above HCL Technologies, the two other big names in IT industries are Tata Consultancy Services with a revenue of $5.05 billion and Infosys with $2.83 in the June 2018 quarter.

HCL Technologies being on number three in the industry expects its revenue to grow in FY2018-19. The company has expected a growth in between 8.4 per cent to 10.4 per cent in dollar terms.

Our recent sources have reported that HCL Technologies, during the June 2018 quarter has managed its net income grow 5.7 per cent to USD 356 million. Whereas the revenue of the company has been increased by 9 per cent to $2.05 billion as compared to last year.

The Noida-based company had witnessed 36 per cent growth in terms of Technology and Services while Lifesciences and Healthcare have contributed a 10.2 per cent growth and Financial Services have given a 9 per cent on last twelve months constant currency basis. Besides this, the company has said to have signed 27 transformational deals during the quarter.

“We achieved highest-ever bookings in this quarter led by our next-gen Infrastructure services as well as Mode 2 offerings. Our combined Mode 2 and 3 offerings contributed 26.6 per cent of our revenues and it grew 9.6 per cent quarter-on-quarter. The company will continue to invest in its next-generation portfolio to help enterprises build their digital future, ” HCL Technologies President and CEO C Vijayakumar said.

To have an overlook, HCL Technologies over the past three years have invested over $2.1 billion in acquiring firms which can help them offer new technology solutions. The investment has been made regarding licensing intellectual properties from these firms and then building products around them for clients. Whereas Wipro, on the other hand, has spent over$1.3 billion in acquiring firms for the same.

 

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