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HCL Tech revenue hits $10 billion mark, beats Wipro
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HCL Tech revenue hits $10 billion mark, beats Wipro
Shilpa Phadnis / TNN / Updated: Jan 16, 2021, 13:56 IST
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(File photo)
BENGALURU: HCL Technologies crossed the $10-billion revenue mark in calendar year 2020, pulling further ahead of Wipro as the third-largest Indian IT services player. Like its peers, HCL delivered a strong sequential performance, growing 3.5% in constant currency in the December quarter.
In reported terms, revenue grew 2.9% to $2.6 billion in the December quarter, compared to the year-ago period. The year-on-year constant currency growth was 1.1%, better than TCS and Wipro. HCL’s operating margin rose to 22.9%, an expansion of 129 basis points (100bps = 1 percentage point) sequentially and 265bps year-on-year.