BENGALURU: HCL Technologies has outperformed the top three Indian IT companies by posting a 1.4% sequential growth in revenues, to $1.57 billion, in the December quarter. In constant currency (discounting currency fluctuations), the revenue grew 2.1% sequentially. The corresponding number for TCS was 0.5%, 1.1% for Infosys and 1.4% for Wipro.
The company said it booked business in excess of $1 billion in total contract value, including winning eight transformational deals.
But growth is clearly slowing. Compared to the year-ago quarter, revenue grew 9.3% in the latest quarter. The year-on-year growth was 16.2% in the same period last year.
The company's net profit grew 10.3% to $291 million sequentially, but dropped 5.4% on a year-on-year basis. "Earlier this quarter, We faced the challenging Chennai situation. Our resilient business models, robust business continuity and disaster recovery practices, coupled with tremendous support from all our clients and employees helped us face the challenge extremely well," said Anant Gupta, president & CEO of the company.
The Americas revenue grew 5.4% but Europe declined 2.4% sequentially due to challenges in specific regions where clients are cutting back on IT outsourcing budgets and reducing their discretionary spending.
Retail and CPG (consumer packaged goods) led the growth among verticals (10.3%), followed by public services (that includes oil & gas, energy & utilities, travel/transport/logistics and government) at 8.4%. Among service lines, business services grew 8%, followed by infrastructure services at 3.4%, but its engineering and R&D service declined 1.5%.
The company's total headcount stood at 1.03 lakh, down 1,875 from the September quarter.