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Quick Facts

Q1 FY’17 RESULTS: 

  • Revenue in constant currency up 6.0% QoQ 11.2% YoY
  • Revenue at US$ 1,691 mn; up 6.5% QoQ 10.0% YoY
  • Net Income at US$ 305 mn; up 7.1% QoQ 9.5% YoY

Highlights for the First Quarter FY2017

  • Revenue at US$ 1,691 mn; up 6.5% QoQ 10.0% YoY
  • Net Income at US$ 305 mn; up 7.1% QoQ 9.5% YoY
  • EBIT at US$ 348 mn; up 5.7% QoQ 12.7% YoY
  • Fixed Price and Managed Services now contributes ~61% to the total revenue
  • Healthy cash conversions. OCF/NI at 96% (LTM basis)
  • Announces dividend of ₹6 per share, 54th consecutive quarter of dividend payout
  • Return on Equity (ROE) at 28% for 12 months ended June 30, 2016.

Key Business Highlights

  • HCL signed 13 transformational deals this quarter, across service lines and industry verticals. The broad-based business wins were driven by next-generation integrated offerings – Next-Gen ITO, BeyonDigital and IoT Works, reflecting investments in Internet of Things, digital technologies, cloud, automation and artificial intelligence.
  • Revenue grew by 10.7%
  • Broad based growth across all revenue segments
    • Americas and Europe grew by 13.7%  and 10.6% respectively
    • Driven by Infrastructure Services at 18.0%, Engineering and RD Services at 10.4%, Business Services at 10.1%, and Application Services at 4.7% (LTM YoY on Constant Currency basis)
    • Vertical growth led by Public Services at 24.7%, Lifesciences Healthcare at 21.5%, Telecommunications, Media, Publishing Entertainment at 17.8%, Retail CPG at 14.9%, Manufacturing at 7.7%, and Financial Services at 5.7%

Leaderspeak

“As changing global socio–economic landscape transforms the dynamics of the industry, enterprises are redesigning their strategies and business models. I am glad that HCL Technologies is amongst the very few pure–play service providers to have built a robust long–term sustainable business model, strongly positioned for future growth. Further, HCL continues to create sustained positive impact on the ecosystem in which it operates. HCL Grant, the first of its kind initiative launched last year to recognize the rise of the Fifth estate – the NGOs – is playing a larger role in transforming the healthcare, environment and education sectors of the Country”, said Shiv Nadar, Chairman Chief Strategy Officer, HCL Technologies Ltd.

“We commence FY'17 on a positive note, continuing our robust financial performance, with a strong 6% growth QoQ and 10.7% LTM YoY in constant currency terms. Our growth momentum is broad–based, st encompassing all sectors and service lines, propelled by our robust 21 Century Enterprise strategy and robust business model”, said Anant Gupta, President CEO, HCL Technologies Ltd.

“Our differentiated offerings in the core services, strong execution and the effectiveness of DryICE Autonomics platform has helped us deliver an EBIT growth of 12.7% quarterly YoY in USD terms. Our TM Next-Gen offerings of BEYONDigital, IoTWoRKS, Cloud and Security Services powered by DryICE Orchestration and Design Thinking is helping our growth in existing client base and acquire new logos as well”, said C Vijay Kumar, COO, HCL Technologies Ltd.

“We are encouraged with the overall Q1 FY’17 performance. We have been able to maintain our margins led by increased adoption of automation and higher offshoring. Our layered hedging policy allowed us to manage significant currency volatility this quarter and post exchange gains. A consistent performance of working capital management together with efficient capital allocation has resulted in return on Equity at 28%”, said Anil Chanana, CFO, HCL Technologies Ltd.

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