HCL Infosystems

HCL Infosystems on Tuesday reported a net profit of Rs 4.84 crore for September quarter 2023-24, helped by exceptional items gain. In the year-ago period, the company incurred a loss of Rs 10 crore. Total income in the quarter was Rs 14.5 crore. In the year-ago period, it was Rs 13.68 crore, according to a BSE filing by the company. Revenue from operations in the quarter under review stood at Rs 5.99 crore. In the year-ago period, it was Rs 6.93 crore. "HCL Infosystems registers Rs 5.99 crore revenue with operating loss of Rs 7.12 crore in Q2FY24," the company said. Systems integration and solutions business reported revenue of Rs 4.91 crore. The profit before tax after considering exceptional items was Rs 4.84 crore. The exceptional item gain was at Rs 11.9 crore in Q2FY24. "As stated in our earlier releases, the company has initiated arbitration proceedings against certain customers where acceptance, sign-offs and payments are held up for a long time," the company said. It ad

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IT company HCL Infosystems on Tuesday posted a consolidated loss of Rs 10 crore in the second quarter ended September. The company had posted a consolidated profit of Rs 13 crore in the same period a year ago, it said in a regulatory filing. According to the auditor's note, HCL Infosystems group has accumulated losses and its net worth has been fully eroded as on September 30, 2022. The group's current liabilities exceeded its current assets by Rs 489.84 crore during the July-September period. HCL's revenue from operations more than halved to Rs 6.93 crore during the quarter under review from Rs 15.54 crore in the corresponding period of the preceding year.

The IT company on Tuesday reported a consolidated net profit

HCL Infosystems on Wednesday said its Chief Financial Officer Kapil Kapur has resigned from the company. The company's Board of Directors has named Alok Sahu to succeed Kapur for the position of CFO with effect from June 1, 2021, a regulatory filing said. "... we submit that Mr KapilKapur, CFO of the company has informed the company about his resignation from the said position with the company with effect from the closing hours of May 31, 2021 to pursue other opportunities & interests," it said. Alok Sahu, a chartered accountant by profession, is a finance professional who has over 25years of experience in spearheading financial and accounting functions, the filing said. He has been associated withHCL Infosystems since 1995.

IT firm HCL Infosystems on Friday reported widening of its loss to Rs 83.71 crore for the quarter ended September. The company had posted a loss of Rs 39.92 crore in the year-ago period, HCL Infosystems said in a regulatory filing. Consolidated revenue from operations for the quarter under review decreased to Rs 131.57 crore from Rs 581.77 crore in the year-ago period, it added. The losses are primarily as a result of delayed receipts on certain system integration contracts, certain historical low margin contracts, slow-down of distribution businesses and finance costs, the filing said . In a statement, HCL Infosystems said its Systems Integration and Solutions business reported a revenue of Rs 24 crore in the second quarter of FY21, while that from the distribution business was at Rs 109 crore. "The company has recognised upfront loss of Rs 24.4 crore during the quarter on UIDAI MSP contract in Systems Integration business," it said. No revenue has been considered against this c

Distribution business revenue in the June 2020 quarter was about Rs 70 crore, while that from system integration and solutions business stood at about Rs 36 crore

For the full year, its loss stood at Rs 136.33 crore, while revenue was at Rs 1,815.17 crore in FY20, the company added in a statement

Like some of its peers, the Noida-based company did not provide a full-year guidance given the current global uncertainty

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Raghavan started his career with HCL in 1978 and since then has been with the organisation

An additional interest and equivalent amount of penalty has also been imposed separately under the CENVAT Credit Rules

The total number of equity shares to be issued is 10,61,90,299

HCL Infosystems, IT services and distribution services arm of HCL Enterprise, said the company's board has approved a plan to raise up to Rs 500 crore from its existing shareholders."Board (of HCL Infosystems) in a meeting held on August 29, 2017 has considered and approved the recommendations of its Capital Raising Committee to go for a rights issue of shares to existing shareholders of the Company as a mode of raising equity capital aggregating up to Rs. 500 crores," said the company in a note to the BSE. With the announcement, the company's stock price gained 1.7 per cent or Rs 0.8 to close at Rs 47.80 on Tuesday on the BSE. As on June 30, 2017, promoters and promoters group held 58.04 per cent of HCL Infosystems shares. The company, which reported a net loss of Rs 55.12 crore on revenues of Rs 684.2 crore in Q1, last week announced that it would distribute Apple products, including iPhone, in the Indian market.It had signed a non-disclosure agreement with Apple India on December .

Last week, HCL-Insys said it will distribute Apple products, including iPhone, in the Indian market

In July, it said it was in discussions with US-based tech giant to distribute its products in India

The stock surges 17% to Rs 50.50 on BSE in early morning trade on back of heavy volumes.

It is a strong player in distribution space and has worked with brands like Lenovo, Motorola, Nokia

HCL Infosystems' market valuation went up by Rs 196.78 crore to Rs 1,242.78 crore