HCL Infosystems Q1 profit plunges by 19.5%

HCL Infosystems on Wednesday reported a 19.5 per cent decline in its consolidated net profit at Rs.47.46 crore for the first quarter ended September 30 from Rs.58.97 crore in the year- ago quarter.

The consolidated revenue for the quarter under review stood at Rs.2,990.7 crore. While revenue from the computer systems business remained at Rs.898.9 crore, earnings from the telecommunication and office automation business for the quarter for the firm stood at Rs.53.7 crore.

HCL Infosystems reported a dip in consolidated net profit at Rs.47.5 crore for quarterended September from Rs.59 crore during the same period last year. Its consolidated net sales also declined at Rs.2,959.4 crore as against Rs.2,999 crore on year- onyear ( YoY) basis.

Ajay Chaudhary, chairman, HCL Infosystems said, “ This is nothing unusual as traditionally our April to June quarter always gets better results as most of the government orders come during that period.”