HCL FY11 profit climbs 35%

Strong demand for IT services in the APAC-MEA region helped Indian outsourcer HCL increase its FY11 profit 35 per cent

India-based IT services outsourcer HCL Technologies grew its revenue from regions including Australasia 69 per cent for the year ending in June.

HCL said its revenue from the region - comprising ANZ as well as the rest of APAC, the Middle East and Africa - grew to US$612.7 million ($572.1 million).

The strong performance helped HCL increase its overall net profit for the year by 34.9 per cent to US$378 million. Total revenue grew 31.1 per cent to US$3.5 million.

For the fourth quarter, profit grew 55.3 per cent year-on-year to US$114 million, with revenue up 30.5% to US$963 million. The Asia-MEA region contributed revenue of US$177.7 million.

HCL attributed the growth in the region to “robust” demand for enterprise services in sectors including CRM, data warehousing and infrastructure services.

During the year, the company partnered with New Zealand finance and banking solutions provider Finzsoft to develop technology for the region's financial sector.

HCL also won a deal in Singapore to develop a mobility framework for an educational institute, and in Japan to develop a GUI platform for a test and measurement systems manufacturer.

The company added over 9,000 staff worldwide during the financial year, taking its total headcount to around 77,000.

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