HCL Info losses widen in Dec qtr

Drop in the number of SI projects bring a 21% decline in revenue

HCL Infosystems reported a 30 per cent increase in second quarter loss to Rs 65.71 crore, as revenue dropped 21 per cent to Rs 1,146.6 crore, owing to a decline in the number of system integration (SI) projects during the quarter. The IT services and solutions provider had reported losses of Rs 50.82 crore on revenue of Rs 1,450.52 in the October to December quarter of 2014.

HCL Infosystems follows a July to June financial year, the company said in a notice to the Bombay Stock Exchange.

"Our focus and investments in the enterprise business continues to be on track; the consumer business of telecom was affected due to portfolio rationalisation by the Principal especially at the low end phone segment. The SI business continued executing to the plan and financial inclusion business is reaching maturity," Premkumar Seshadri, Executive Vice-Chairman and Managing Director, HCL Infosystems Ltd said in a statement.

HCL said enterprise segment grew 35 per cent over a year ago period, whereas consumer business revenue contracted by 37 per cent on YoY basis due to portfolio rationalisation by a customer in the low end phone segment.