Thursday, October 23, 2014

HCL TECHNOLOGIES - FIRST QUARTER RESULTS - SEPTEMBER 2014 - Revenue up 10%YoY;Net Income up 32% YoY



HCL TECHNOLOGIES

FIRST QUARTER RESULTS
SEPTEMBER 2014

SHIV NADAR, CHAIRMAN

HIGHLIGHTS
f i r s t QUAR T E R - F Y 2 01 5 R ESULT S
·       Revenue at Rs.8,735 crores; up 3.7% QoQ & 10% YoY
·       Net Income at Rs.1,873 crores; up 2.1% QoQ & 32% YoY
·    Revenue growth (excluding India) in Constant Currency at 3.7% & 14.3% YoY
·       Revenue growth in Constant Currency at 3.2% QoQ & 13% YoY
·       Announces dividend of Rs.6 per share
·       Total Headcount at 95,522. Gross & Net addition of 35,957 & 8,326 for LTM Sep'14 and 11,631 & 3,831 for Q1'15
·       EBIT Rs.2,088 Cr.  2.4% up QoQ; 10.2% up YoY



“We have posted another healthy quarter of broad-based growth led by a revenue increase of 3.2% QoQ in constant currency. Our customer acquisition momentum continues with yet another billion dollar quarter driven by strong growth in Global Infrastructure Services at 16.9% YoY & Engineering and R&D Services at 14.1% YoY. We have also added 15 Fortune 500/Global 2000 clients this quarter,” said ANANT GUPTA, CEO, HCL Technologies.

“Going forward our investments will continue in the three strategic markets of ITO, Engineering Services Outsourcing and the emerging Digitalization space which will enable a continued balanced business portfolio performance for the company”, he added.

"Our broad based growth has enabled us to deliver industry-leading Net Income performance of 36.1% YoY. We remain focused on working capital management and free cash flow generation with ~70% of EBITDA converted into free cash flows in the last 12 months”, said ANIL CHANANA, CFO, HCL Technologies.

HCL has signed 15 Transformational engagements with more than US$ 1bn of Total Contract Value in this quarter. We recorded broad-based bookings led by Global Infrastructure Services, Engineering and R&D Services, Application Services and the Digitalization suite across Software Product and Platform Engineering. Manufacturing and Consumer Services led the wins in verticals and US in geographies.

Income Stt  : QE SEP13 : QE JUN14  : QE SEP14 :YoY : QoQ
Revenues : 7,961 :  8,424   8,735 : 9.7% : 3.7%
Direct Costs : 4,858 : 5,215 : 5,522
Gross Profits : 3,103 : 3,208 : 3,213 : 3.5% : 0.1%
SG & A   : 1,010 : 992 : 1,021
EBITDA : 2,093 : 2,216 : 2,192 : 4.7% : -1.1%
Depreciation : 185 : 165 : 92
Amortisation : 13 : 12 : 12
EBIT : 1,895 : 2,038 : 2,088 :  10.2% :  2.4%
Forex Gains/(loss) : (236) : (53) : (53)
Other Income, net : 116 : 211 : 358
Provision for Tax : 359 : 362 : 519
Minority Interest : 0.20 : 0.05 : 0.05
Net Income : 1,416 : 1,834 : 1,873 : 32.3% : 2.1%
Gross Margin : 39.0% : 38.1% : 36.8%
EBITDA Margin : 26.3% : 26.3% : 25.1%
EBIT Margin : 23.8% : 24.2% : 23.9%
Net Income Margin : 17.8% : 21.8% : 21.4%
Earnings Per Share
Annualized in Rupees
Basic : 81 : 105 : 107 : 31.7%
Diluted : 80 : 104 : 106 : 32.5%

Note : The Company follows July-June Year

ABOUT HCL TECH

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. Since its emergence on global landscape after its IPO in 1999, HCL has focused on 'transformational outsourcing', underlined by innovation and value creation, offering an integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and Business services. HCL leverages its extensive global offshore infrastructure and network of offices in 31 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare & Life sciences. HCL takes pride in its philosophy of 'Employees First, Customers Second' which empowers its 95,522 transformers to create real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 5.5 billion, as on 30th September 2014 (on LTM basis). 

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