Indian outsourcer posts big sales and profits increase
- Author:
- Antony Savvas
- Posted:
- 13:05 17 Jan 2007
Indian outsourcer HCL Technologies has posted impressive results for the second quarter, with sales and profits dramatically up.
HCL, which recently signed a big outsourcing deal with insurance firm Skandia, saw a year-on-year sales increase of 41% to $331m (£175m) for the quarter. Net profits rose 61% to $64.7m (£34m).
The company’s headcount also rose by 1,865, taking the total up to 38,320 by the turn of the year.
Shiv Nadar, HCL’s CEO, said, "HCL is one of the fastest-growing Indian IT companies. In qualitative terms, the Skandia deal is another proof point of our leadership in value-centric, multi-service multimillion-dollar deals."
The firm reported that its business process outsourcing business grew by 12% compared with the previous quarter, helped by contract wins in the UK and US insurance markets.
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