With final quarter revenue growth that left its Bangalore-based rivals in the shade (see Wipro shares the 'Bangalore blues') , Noida-headquartered offshore services firm HCL finished its FY with revenues 17% higher at $4.15b. OK, this was way behind the 31% growth the prior FY, but under the circumstances it’s a pretty good showing. And there was an impressive story on profitability too, with Q4 EBIT margins hitting 19.4%, nearly 4 points up both yoy and qoq – the highest in four years. As a result, the FY margin, at 16.3%, was over two points higher than the prior year.
I must admit that I am amazed at the progress HCL has made over the past couple of years, but the numbers tell the story, so well done them! More for eligible TechMarketView subscription service clients in due course.