Subscribe free to our newsletters via your
. Space Travel 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
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
Slow-Going at Cape York for Opportunity

ExoMars program gathers strength

Opportunity Runs the First Martian Marathon

NASA Conducts Mission Simulations In Hawaii

TRADE WARS
Another Small Step for Mankind

Russia starts building Moon spaceship, eyes Lunar base

Plans to revisit Moon impeded by financial difficulties

Russia says no manned moon shots till 2018

TRADE WARS
Hubble Discovers a Fifth Moon Orbiting Pluto

Hubble telescope spots fifth moon near Pluto

New Horizons Doing Science in Its Sleep

It's a Sim: Out in Deep Space, New Horizons Practices the 2015 Pluto Encounter

TRADE WARS
UCF Discovers Exoplanet Neighbor

Can Astronomers Detect Exoplanet Oceans

The Mysterious Case of the Disappearing Dust

Study in Nature sheds new light on planet formation

TRADE WARS
Taiwan to get new powerful rocket system: report

NASA Selects Space Launch System Advanced Booster Proposals

J-2X Engine With Nozzle Extension Goes the Distance

Cella Energy Signs Fuel Source Deal with Kennedy Space Center

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
Planetary Resources Announces Agreement with Virgin Galactic for Payload Services

Explained: Near-miss asteroids

The B612 Foundation Announces The First Privately Funded Deep Space Mission

Ex-NASA astronauts aim to launch asteroid tracker




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