Date:18/04/2007 URL: http://www.thehindu.com/2007/04/18/stories/2007041801531800.htm

Business - Briefly

HCL Tech Q3 net income up 72 p.c.

NEW DELHI: HCL Technologies reported a robust 40.6 per cent growth in revenues at Rs. 1,577 crore for the third quarter ended March 31, 2007. Net income rose by 72 per cent to Rs. 331.80 crore on a year-on-year basis. The quarter marked an important period for the company as it crossed the 40,000-employee mark. Vineet Nayar, President, said the company had done pioneering work in various fields achieving micro vertical growth in almost all fields it entered into with impressive results. He said the company was reducing its dependence on the U.S. and focusing on opportunities in Europe, Australia and other markets. While the rise in rupee value could have a marginal impact on its fortune, HCL Technologies President asserted that the company had a safe cushion in a forward cover of $900 million.