HCL Technologies Europe Revenues up 25.0% YoY (on LTM basis)

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Apr 18, 2012, 09:04 ET

NOIDA, India, April 18, 2012 /PRNewswire/ --

- HCL Technologies Q3 2012 Revenues at US$ 1,048 mn, Up 14.6% YoY and 2.5% QoQ

Europe Revenues up 25.0% YoY (on LTM basis)

HCL Technologies Ltd. (HCL), today announced results for the quarter ended March 31, 2012. HCL's revenues reached US$ 1,048 mn, up 14.6% YoY and 2.5% QoQ. This quarter also marks HCL's achievement of $4 bn LTM revenue milestone. HCL Europe business posted a revenue increase of 25.0% YoY (on LTM basis).

Commenting on the results for Europe, Rajeev Sawhney, President, HCL Europe said, "We are pleased to report a yet another positive quarter with Europe leading the geographic growth of the company with 25.0% YoY (on LTM basis). The continent in general, and Continental Europe in particular, have yielded good results in view of strategic investments made by us. Over the last 2 quarters, we have announced some significant engagements in this region with companies like UPM, Statoil and AstraZeneca. These wins are testimony to our growing relevance in the region."

Europe highlights:

• UPM and HCL have signed a five year outsourcing agreement for IT infrastructure services. As part of this agreement, HCL will provide data center, end user support, network services and professional IT services to UPM. HCL will also set up a data center in Finland.

• HCL has won a deal from world's leading snack manufacturer, a Fortune 500 company, to provide Field Services Support in 16 countries in Europe.

• HCL has won an engagement from one of the largest telecom service providers in the Nordics region for its organization-wide Integration (Middleware) activities.

• HCL has entered into an SAP engagement with a mobile consortium in the UK.

HCL Technologies - Highlights