The Way Business Is Moving published by
Issue Date: October 2008

HCL Infosystems Q1 hit by currency fluctuations

30 October 2008

India-based systems integration and distribution company HCL Infosystems has reported an 8,.3% decline in net income to INR 661m ($13m) for the first quarter 2009, on revenue flat at INR 31,26bn ($616m). The company attributed the decline to foreign exchange fluctuations.
During the quarter, EPS fell 9% to INR 3.9 ($0,08), while EBITDA declined 9% to INR 960m ($18,9m).
Computer systems revenue rose 15% to INR 8,76bn ($172m), while telecommunication and office automation revenue declined 4,5% to INR 22,57bn ($444m). Revenue from Internet and related services fell slightly to INR 94m ($1,85m).
Ajai Chowdhry, chairman and chief executive at HCL Infosystems, said: "Going forward, our hardware, distribution, and system integration businesses will provide resilience to the organisation. We have built our system integration capabilities and have grown the business in diverse sectors. This will help in steady growth."
Source: Computergram

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