Biznextindia : Leading, Indian Technology firm HCL on Monday said that the ongoing market disruptions due to Coronavirus pandemic is likely to have limited impact on its quarterly numbers as its exposure to the impacted verticals are not significant.
“While the impact on this quarter’s numbers is yet to be quantified, we don’t expect it to be significant. Our exposure to the more impacted verticals are not significant. Booking during this quarter has largely been on track as significant part of closures happened in January. Our business model is a healthy mix of recurring product revenues, managed services and discretionary spend led professional services. From a vertical perspective, our exposure to verticals like Oil & Gas, Travel & Hospitality, High-End Retail is in single digits” HCL said in a market filing.
However, the company has admitted that situation arising out of this outbreak and its rapid spread across the world is unprecedented and is extremely dynamic. The economic impact is visible with varying degrees of intensity across multiple countries where it operates.
As of 12 months ended December 31, 2019, HCL has consolidated revenue of US$ 9.7 billion employing over 149,000 in 45 countries.
The company has further said that in view of the global pandemic, 76% of its India based staffs and 92% staffs in other geographies are working from home.
“.. We have not witnessed any outages or major disruption in operations with this newer format of work from home delivery. We would like to use this opportunity to thank our clients, industry bodies and government officials who have been very supportive in our efforts so far” HCL said.