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HCL Infosystems registers Rs27.61cr revenue with operating loss of Rs21.45cr in Q1FY22; Stock surges 5%

Exceptional non-recurring gain during this quarter on account of Profit on sale of properties was Rs62.03cr. Profit Before Tax after considering exceptional items Rs40.58cr.

August 09, 2021 12:55 IST | India Infoline News Service
HCL Infosystems Limited on Friday announced its financial results for the quarter ended June 30, 2021. The company’s revenue in Q1FY22 revenue was Rs27.61cr. Systems Integration and Solutions business reported revenue of Rs24.61cr. Loss Before Tax and exceptional items was Rs21.45cr.

The company said exceptional non-recurring gain during this quarter on account of Profit on sale of properties was Rs62.03cr. Profit Before Tax after considering exceptional items Rs40.58cr.

At around 12.58 PM, HCL Infosystems Ltd was trading at Rs14.85 per piece up by Rs0.7 or 4.95% from its previous closing of Rs14.15 per piece on the BSE.

“During the quarter, the company continued to focus on reduction of debt and losses. The Company took initiatives such as sale of properties and along with realization of tax refunds during the quarter helped meet these objectives,” Raj Sachdeva, Manager of HCL Infosystems Ltd.

“As recommended by the Board, our Consumer and Enterprise Distribution businesses have been scaled down, resulting in the decline in revenues during the current financial year. In the System Integration and Solution business, we continued to focus on deliverables of existing projects and collection of receivables from customers,” company said.

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