India’s Premier IT Services, System Integration, Hardware and Distribution Company HCL Infosystems has announced its financial results for the fourth quarter and Financial Year ended June 30th, 2013.
The key highlights of the results showed consolidated revenue at Rs. 2,138 crores for the quarter ended June 30, 2013, taking the consolidated revenues for the year to Rs.9,295 crores. The company received revenue from Hardware Products and Solutions business at Rs. 748 crores, taking the revenues for the year to Rs. 3,355 crores. The revenue from learning business for the quarter was Rs. 43 crores.
Moreover, the consolidated profit/ loss from operations before exchange differences and provisions for doubtful debts reported at Rs. 4 crores for this quarter, taking the net profit from operations before exchange differences and provisions for doubtful debts for the year to Rs. 57 crores.
Harsh Chitale, CEO, HCL Infosystems said, “The present economic environment provides for a far more muted growth rate and profitability in comparison to the heydays that the industry had witnessed a few years back. It was a tough year for us with difficult market conditions for our hardware business, high interest costs and high impairment of overdue receivables coupled with issues like rupee depreciation. One of our growth focus areas, IT Services, has continued to perform well in terms of new customer additions and large-ticket outsourcing deals.
He further added that with a few recent successful products launched by its Telecom Principal division, the Telecom revenues has witnessed upswing in this quarter thereby resulting in the overall distribution business revenues to grow by 13% Q-o-Q.
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