| HCL Technologies, TCS, Creative Infocity, Silverline Technologies, Legasis |
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| Friday, 20 October 2006 | |
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HCL Technologies declares Q2 FY07 results HCL Technologies has posted revenue of Rs 9.2 bn ($203 mn), and net profit of Rs 2.1 bn ($46.5 mn) for the quarter ended September 30, 2006, recording a net jump of 130 per cent compared with Rs 894 mn ($19.8) for the same quarter last year. Two major highlights of this quarter were the launch of its Enterprise Transformation Services offerings and a new Legal Process Outsourcing deal by its BPO business division. Gandhinagar gets new IT facility U.S. based Creative Infocity and Silverline Technologies have entered into a joint venture for developing IT infrastructure facilities in Gandhinagar in India, with collaboration from the Gujarat government. Creative InfoCity will utilize the facility in various phases for IT services, including animation and BPO as per a five-year plan. TCS leads again TCS also declared its second quarter results - revenue of Rs. 44.9 bn ($993 mn), up 42% over the previous quarter. Consolidated net profits increased 43% to Rs. 10.2 bn ($225.7 mn) from Rs. 7.1 bn ($157 mn) for Q2 of last year. The company added 58 new clients during the quarter, with top 5 clients contributing 17% and top 10 clients contributing 27% to overall revenue. The share of offshore services in revenues increased to 41 percent over 38.1% in Q1 FY07. The share of BPO services in revenue went up to 5.8% in Q2 ($57.6 mn), over 5.7% in Q1FY07. This has gone up significantly from 1.3% during Q2 FY06, on account of recent acquisitions in the BPO space. Another legal BPO vendor in India Legasis Services plans to provide legal solutions from a new center in Pune. The legal outsourcing company will target multinational companies from the US and UK and plans to offer contract drafting, document examination and review, arbitration and litigation support and legal due diligence, apart from patents and other IP related services. The company has hired 20 professionals to begin with, and will also plans to look at business from CIS countries, and the Fast East including China in the future. Related Items: |
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ValueNotes’ research indicates that the domestic BPO industry stands at an inflection point, with the growing scale of Indian buyers as well as the emergence of significant vendors with greater capabilities