HCL closes a more profitable year

For the second successive year, Noida-headquartered offshore services firm HCL boosted profitability, with FY13 (to 30th June) showing a 20.1% operating margin, almost 4 points higher than the prior year and 6 points higher than FY11. Headline revenues grew by 13% to $4.69bn, retaining HCL’s ranking as the fifth largest India-centric IT services firm by revenues.

We'll have much more to write about the India-centric IT services players – including their UK performance – in the next edition of OffshoreViews