HCL Infosystem June quarter net up 29%

HCL Infosystem's consolidated quarterly net profit for April-June 2005 grew by 29 per cent to Rs 59 crore ($13.2 million) against Rs. 45.9 crore ($10.2 million) in the previous year.

Consolidated revenues grew by 66 per cent to Rs 2,197.5 crore ($ 491.2 million) during the quarter ended 30 June 2005 against Rs 1,321.2 ($ 295.3 million) crore in the previous year.

The board recommended a final dividend of 100 per cent at Rs 2 per share, taking the total dividend for 2004-05 to 310 per cent.

Ajai Chowdhry, chairman and CEO, said, "We are moving ahead at a steady pace in our efforts to take IT and telecom to the masses by strengthening our presence in B, C & D class cities."

For the year ended June 30, 2005, the company has reported a 30 per cent rise in net profit to Rs 227.7 crore ($ 50.9 million) as against Rs 175.1 crore ($ 39.1 million) in the previous year.

The consolidated revenue for the year grew by 76 per cent to of Rs 7783.6 crore ($ 1739.7 million) during the year ended June 2005 against Rs 4411.8 crore ($ 986.1 million) in the previous year.

The company has two main line of businesses - computer systems and office automation and telecommunication business, which is done by HCL Comnet, its subsidiary. The basic earnings per share (EPS) as on 30 June stood at Rs 13.7 ($ 0.3) per share compared with Rs 10.9 ($ 0.2) per share during previous year.

During the June quarter, the net profit for computer systems business grew by 21 per cent to Rs 32 crore ($ 7.1 million) against Rs 26.4 crore ($5.9 million) in the corresponding quarter of the previous year.

Revenues from the computer systems business grew by 37 per cent to Rs 533.5 crore ($ 119.2 million) against Rs 390.5 crore ($ 87.3 million) in the corresponding quarter of the previous year.