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HCL Infosystems gearing up for future growth opportunities
Posted on: 28/Apr/2011 7:41:31 AM
• Bagged Systems Integration Orders of over Rs. 750 crores during the quarter
• Revenue from Computer Systems business for the quarter was Rs. 898 crores, taking the nine months revenue to Rs. 2,838 crores, a growth of 14% YoY.
• Revenue from Telecommunication and Office Automation business for the quarter was Rs. 1,856 crores, taking the nine months revenue to Rs. 6,037 crores.
• Board of Directors declared 100% quarterly Interim dividend. This is the 31st continuous quarter for dividends
HCL Infosystems India’s premier Hardware, Services and ICT Systems Integration, Hardware and Distribution Company today announced financial results for its third quarter ended March 31st, 2011.
Mr. Ajai Chowdhry, Founder HCL and Chairman, HCL Infosystems Limited, commenting on the results said, “HCL Infosystems has been strongly focusing on building an organisation for tomorrow. As we further strengthen our teams, expertise and consolidate, we need to prepare and build capacity to cater to the demand that the much awaited IT boom in domestic market that National initiatives like Aadhar, financial inclusion, right to quality education and rollout of broadband etc. will generate across the country. I am also enthused with the New Electronic Manufacturing Policy that is expected to be a reality soon and am hopeful that it would lead to greater thrust to R&D and investments in electronic manufacturing in India.”
He added “As the IT industry touches an exciting inflection point where Broadband, Mobility, Cloud are all converging to define the future of domestic IT business and we at HCL Infosystems are committed to investing for this future.”
Mr. Harsh Chitale, Chief Executive Officer, HCL Infosystems Limited, commenting on the results said – “During the quarter the System Integration business was adversely impacted by the delays in the decision making in various Government and Public Sector Undertaking led projects. Our distribution business also experienced a significant decline with a leading telecom brand in our portfolio recording a dip in revenues. However, our Computer Services, Office Automation and Education & Learning business continued to register a healthy growth. This quarter we also kick-started a companywide business excellence program with an objective to re-align the organisation to drive cost and working capital efficiencies and to re-position it for future growth opportunities. These programs are expected to start showing results in terms of bottom-line as well as cash flow performance over the next 12-15months”
