HCL Infosystems revenue drops 17% quarterly in Q1

HCL Technologies for enterprises
HCL Infosystems reported Rs 685 crore revenue for the first quarter (Q1) of the 2017-18 fiscal, registering 17 percent sequential decline from Rs 823 crore a quarter ago.

“Though our enterprise business revenue grew to Rs 582 crore in Q1 from Rs 566 crore quarter ago in Q4 of fiscal 2016-17, consumer business revenue sequentially declined 58 per cent to Rs 69 crore due to transition to multi-brand business from single brand,” said the Noida-based company in a statement here.

Loss before interest, tax and exceptional items was sequentially flat at Rs 22.9 crore from Rs 22 crore a quarter ago.

Loss before tax and after exceptional items, however, reduced sequentially to Rs 66.5 crore from Rs 131.9 crore a quarter ago.

“Our enterprise business has been maintaining its growth, while in the consumer business we are steadfast in transition to a multi-brand business model from single-brand,” HCL Infosystems Managing Director Premkumar said in the statement.

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