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HCL Technologies forecasts strong annual revenue growth on acquisitions

Fourth-quarter net income rises 14.5% on year

  © Reuters

MUMBAI (NewsRise) -- HCL Technologies, India's third-largest software exporter, posted a 14.5% on-year rise in fourth-quarter profit and forecast strong revenue growth for this fiscal year, helped by its past acquisitions.

HCL's forecast comes even as fears of a slowdown in the U.S., the largest outsourcing market in the world, looms large. Analysts are predicting budget cuts in the financial services and retail sectors in the U.S., two of the largest revenue generating businesses for Indian IT companies, later this year as the economy navigates a slowdown.

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