Subscribe free to our newsletters via your
. Energy 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
BSU starts second phase of largest geothermal system in U.S.

Roadmap for a Sustainable Energy System in the Dominican Republic

Apollo Energy Assists Businesses Cutting Commercial Energy Costs

Ireland calls for interconnector approval

TRADE WARS
China eyes Canada for oil deals

Hungary, Azerbaijan seek joint projects

Vietnam, Philippines slam China garrison plan

Hong Kong billionaire to buy UK gas company

TRADE WARS
SeaRoc to provide full installation services on Narec's Offshore Anemometry Hub

Italian police seize giant wind farm in mafia probe

GL Garrad Hassan releases update of WindFarmer 5.0

U.S moves massive wind farm plan forward

TRADE WARS
UCLA researchers create highly transparent solar cells for windows that generate electricity

DuPont Addresses Patent Protection at Solarbuzz China Conference

Solar Module Price Erosion Slows in the Second Half of 2012 as Demand Rises

Next Phase in SolarStrong Project for Sustainable Electricity Production

TRADE WARS
Convoy taking Italian spent nuclear fuel to France: reports

Opportunity after the nuclear disaster at Fukushima

AREVA and Northrop Grumman Announce Plans to Provide Cybersecurity Support to U.S. Nuclear Facilities

40 India nuclear plant workers contaminated: firm

TRADE WARS
Strategies to improve renewable energy feedstocks

Brazil to build first algae-based biofuel plant

OriginOil Ships First Production System to Paris-Based Ennesys

Beating the fuel prices: Using yeast for economic production of bioethanol

TRADE WARS
Looking Forward to Shenzhou 10

Astronauts in good shape after return

Shenzhou mission sparks 'science fever'

China Beats Russia on Space Launches

TRADE WARS
Southern French worms wriggle as far north as Ireland

Asia unlikely to achieve climate, poverty goals unless women's rights are recognized

Generation X is surprisingly unconcerned about climate change

No end in sight for US drought: experts




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