Loss after tax reduced from INR 84.6 Crore (excluding goodwill impairment of INR 70 Crore) in previous quarter to INR 35.7 Crore in Q1 FY17
Enterprise Business delivers positive momentum with 3% Q-o-Q growth
Q1 Revenue at INR 1,148 Crore, growth of 7% Q-o-Q
Loss before finance costs, exceptional items and tax is INR 1.4 Crore as against INR 24.5 Crore in Q3FY16
Loss after tax reduced from INR 84.6 Crore (excluding goodwill impairment of INR 70 Crore) in previous quarter to INR 35.7 Crore in Q1
Enterprise Business revenues at INR 573 Crore on back of continued focus as against INR 556 Crore in previous quarter; this business contributes 50% to the company’s revenue
Consumer Business revenue at INR 472 Crore; marginal increase of 4% Q-o-Q
Note – The Indian Accounting Standards (Ind-AS), as notified under the Companies (Indian Accounting Standards) Rules,2015, are applicable to HCL Infosystems Limited for the accounting period commencing from April 1, 2016.
HCL Infosystems, one of India’s premier IT Services, Distribution and Digital Solutions Company, today announced its financial results for the first quarter ended June 30, 2016.
Mr. Premkumar, Executive Vice-Chairman and Managing Director, HCL Infosystems Ltd., commenting on the results said, “Our continued thrust and investments in the Enterprise business has resulted in robust growth for the fourth quarter in succession. The mobility business also showed a positive trajectory in this quarter, together the same has enabled improved profitability. Key SI projects in Defence dedicated to Nation would result in formal commercial closure.”
The core Enterprise Business (consisting of Enterprise Products Distribution, Domestic Enterprise Services, Global Enterprise Services and Care Services) continued on its growth path and is the engine for the Company’s next level of growth. Enterprise Business Revenue for Q1 FY2017 was at INR 573 Crore, up 3% from last quarter.
The Enterprise Business once again clocked sequential growth in revenue. The GTM of an integrated products and services portfolio is creating good traction apart from bringing in cost synergies.
The Global Services business continued to register growth in revenue and profitability. The Singapore business acquired new clients for prestigious projects in Networking, Security solutions, Data Centre & Cloud Solutions.
The Consumer Distribution business recorded a marginal 4% increase in Q1 revenue over the last quarter. The business was buoyed by 13% growth in Entry Category both in Value and Volume. The business expanded its retail reach by over 20%, thus strengthening its touch points.