Subscribe free to our newsletters via your
. Space Industry and Business News .




TRADE WARS
Indian outsourcer HCL reports 67% jump in quarterly profit
by Staff Writers
New Delhi (AFP) July 25, 2012


India's fourth-biggest outsourcing company, HCL Technologies, reported on Wednesday a 67 percent jump in quarterly net profit from a year earlier as client orders surged.

HCL notched up a net profit of 8.5 billion rupees ($151 million) for the April-June period, its financial fourth quarter, on sales that grew 38 percent to 59.2 billion rupees.

HCL, which has been aggressive in pursuing new business, beat market expectations that it would post a profit of around seven billion rupees.

"HCL reported numbers that were ahead of expectation," said Rikesh Parikh, Vice president of Markets Strategy at India's Motilal Oswal Securities.

"Contrary to other IT majors, HCL has been able to win deals and maintain margins," Parikh said.

Shares of the company, India's fourth-largest outsourcer by sales, climbed nearly seven percent to hit a two-month high of 513 rupees on the back of the results.

Earnings of India's biggest outsourcing firm, TCS, also beat analysts' estimates earlier this month.

But the country's second and third-largest outsourcing firms, Infosys and Wipro, are facing headwinds in boosting sales as the downturn in their main US and European markets prompts many customers to go slow on concluding deals.

India's flagship outsourcing sector carries out a wide range of jobs for Western companies, such as answering bank customers' calls, processing insurance claims and software development.

The country's software firms derive over 85 percent of their revenues from the United States and Europe.

India, with its large less expensive English-speaking workforce, accounts for at least 50 percent of the global outsourcing market.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
Japan posts record first-half trade deficit
Tokyo (AFP) July 25, 2012
Japan posted a record first-half trade deficit of $37.3 billion Wednesday as energy costs soared and exports to key markets slumped, while analysts warned of further pain for the next six months. As the country struggles to recover from last year's quake-tsunami and nuclear crisis, costs have shot up while income has plummeted owing to the rolling debt crisis in Europe and a stuttering recov ... read more


TRADE WARS
Cassidian announces passive radar system

Print newspapers alive and kicking in Brazil: editors

Apple profit jumps to $8.8 bn, but below forecasts

GMV Awarded Contract for MEASAT-3b Communications Satellite Control Center

TRADE WARS
US Army awards Raytheon contract to upgrade Advanced Field Artillery Tactical Data System

Boeing-built Legacy UHF Payload Operating on MUOS-1 Satellite

Lockheed Martin Completes On-Orbit Testing of First US Navy MUOS Satellite

Northrop Grumman's RC-12X Airborne Signals Intelligence System Completes 1,000th Mission

TRADE WARS
HYLAS 2 and Intelsat 20 are prepared for Arianespace's next Ariane 5 mission

Degradation Free Spectrometers Sounding Rocket

SpaceX Utilizes Tiger-Tight's Friction Washer Technology For ISS Mission

NASA Partner United Launch Alliance Completes Two Atlas V Reviews

TRADE WARS
SSTL announces the launch of exactView-1

GMV Leads Satellite Navigation Project In Collaboration With The South African National Space Agency

SSTL signs contract with OHB for second batch of Galileo payloads

Phone app will navigate indoors

TRADE WARS
Singapore Airlines first quarter net profit up 73%

EU should scrap airline emissions tax: IATA

International F-35 Fleet Begins Build Up At Eglin AFB

US 'confident' F-22 jet oxygen problems solved

TRADE WARS
Radiation damage bigger problem in microelectronics than previously thought

Chips with self-assembling rectangles

Getting Amped

Frog calls inspire a new algorithm for wireless networks

TRADE WARS
Lockheed Martin Marks Landsat 40th Anniversary

Earth-observing Camera Launches to International Space Station

Landsat Looks and Sees

Why Is Earth So Dry?

TRADE WARS
Olympics: Bhopal victims organise protest Games

To clean up the mine, let fungus reproduce

NASA, Partners Announce Launch: Beyond Waste Innovators

Green plants reduce city street pollution up to eight times more than previously believed




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement