HCL accelerated its growth in the European region reporting a revenue increase of 7.2% QoQ and 19.9% YoY during the 2nd quarter of FY 2010-11. In Calendar Year 2010, HCL recorded revenues in excess of US$ 3bn of which US$ 809 mn came from Europe.

 

”This geography constitutes 26.6% of HCL Technologies’ revenues and has demonstrated increasing market recognition of the value HCL delivers to its customers.” commented Rajeev Sawhney, President for HCL Europe.  ”Our Go-to-Market strategy encompasses integrated horizontal, vertical and geographic focus and is gaining positive momentum to continue delivering a balanced growth, going forward. With the signing of these new contracts across Europe last quarter and the partnership of new alliances, it also shows our growing operations and commitment to the region.

 

The key European highlights from this quarter include;

 

• HCL has been presented with the ‘Service Provider of the Year’ award by the National Outsourcing Association, UK.

• HCL has been positioned as a ‘Leader’ in the ‘Forrester WaveT: EMEA Applications Outsourcing, Q4 2010’ that evaluated leading Application outsourcing solution vendors

 

• HCL has entered into an engagement to provide end-to-end Fulfillment services for Cards and Online Savings to Bank of Ireland.

 

• HCL signed an Infrastructure Services engagement with leading in-vitro diagnostics company bioMérieux SA.

 

• HCL signs deal with Lafarge, an international group specialized in construction materials has chosen HCL Technologies to outsource its information systems within the EDC project (European Data Center).

 

• HCL signed a strategic Infrastructure Management partnership with Swisscom ITS for managing its IT infrastructure. As part of this agreement, Swisscom ITS will also be the Go-to-Market channel for HCL in Switzerland.

 

• Leading journalists from more than 20 European media houses visited HCL India campus to understand HCL and its strategy. As a follow on to this visit, HCL was covered extensively in leading European publications like The Financial Times, The BBC, The Daily Telegraph, Les Echos and La Tribune

 

Q2 FY 2011 Financial Highlights for HCL Technologies

• Q2 Revenues at US$ 864 mn; up 7.5% QoQ & 32.6% YoY
• Net Income at US$ 89 mn; up 23.7% QoQ & 39.2% YoY
• Gross & Net Employee addition of 8,379 & 2,049 respectively taking total headcount to 72,267 

 

Q2 FY 2011 Financial Highlights for Europe:

• Europe posts 19.9% YoY revenue growth in FY’10 over FY’09
• Europe posts 7.2% QoQ revenue growth

 

Our Second Quarter Results FY 2010-11 are out – TO VIEW THE GLOBAL FINANCIAL RESULTS – PLS GO TO – http://www.hcltech.com/investors/Downloads/FR/HCLT-Q2-2011-OND’10-IR_Release.pdf

 

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