For the year FY01, the company added 71 new clients taking the total number of clients to 340. Of the 71 clients added, 14 were Fortune 500 companies. HCL Tech's revenues from top 5 and top 10 clients stood at 21% and 31% respectively. These figures are comparable to other top rung software majors.
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The debtors days too were in line with the best in the industry at 66 days. The figure has come down from 72 days in the previous year.
The offshore revenues contributed to 63% of the total revenues. The contribution of technology development services grew from 34% in FY00 to 45% in FY01. Since under this area the company offers services related to R&D, its operating margins have shown a sharp improvement.
For the 4QFY01, the company's topline has grown by 2%, on a QoQ basis. The rise in net profits is 4%. The other income figure has grown by 3.4% compared to 3QFY01. Due to a control on expenditure HCL Tech's operating margins have risen. For the 4QFY01, the revenues have grown by 35% on a YoY basis and rise in net profits is 43%.
Performance of the company in 4QFY01 was strong. The contribution of offshore revenues was 65% and 23 new clients were added. However, net addition of customers was only 8. The clients added during the quarter included Panasonic, Honda Motor Company, Deloitte Touche Tohmatsu, Scient Corporation, Denso Corporation, Thomson Financial and Fuji Film. HCL Tech managed to bring down the debtors days to 62, which is very impressive.
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