Business
HCL Technologies Profits Double
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| Indian software services giant HCL Technologies’ quarterly profits doubled during the last quarter, far outpacing its peers, Tata Consultancy Services, Wipro and Infosys.
HCL reported $69 million in net income during the last quarter, a 110 percent increase from the $33 million in profit last year. Revenues grew 21 percent to $607 million during the quarter from last year. TCS, India’s largest outsourcing firm, posted a 22 percent increase in quarterly profit, Wipro 13 percent and Infosys’s profits declined almost 2 percent from last year. HCL employs nearly 54,000 people and is emphasizing local recruitment to ease criticism about job losses in the U.S The company claims that almost 3,500 of the 15,000 employees it hired in the last financial year are from the U.S. and Europe. |