HCL Infosystems has announced its financial results for the first quarter ended June 30, 2016, reporting a 7 percent Q-o-Q growth with revenue of Rs. 1148 crore in Q1 FY17.

Loss before finance costs, exceptional items, and tax is Rs. 1.4 crore as against Rs. 24.5 crore in Q3 FY16. Loss after tax reduced from Rs. 84.6 crore (excluding goodwill impairment of Rs. 70 crore) in the previous quarter to Rs. 35.7 crore in Q1

The core enterprise business 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 Rs. 573 crore, up 3 percent from the last quarter.

The consumer distribution business recorded a marginal 4 percent increase in Q1 revenue over the last quarter. The business was buoyed by 13 percent growth in entry category both in value and volume. The business expanded its retail reach by over 20 percent, thus strengthening its touch points.

The SI and Solutions business registered a revenue of Rs. 122 crore in Q1 FY2017, with orders worth Rs. 80 crore executed during the quarter. The total order book size stood at Rs. 1100 crore as on June 30, 2016, which largely comprises of annual maintenance and managed services contracts. The UIDAI project crossed the milestone of enrollment of more than 102.5 crore Aadhaars. The prestigious Defense Communication Network (DCN) Project was dedicated to the nation.

"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 and the same has enabled improved profitability. Key SI projects in defense dedicated to the nation would result in formal commercial closure."

Premkumar
Executive Vice-Chairman and Managing Director,
HCL Infosystems Ltd.


 

 

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