HCL Infosystems drops after dismal Q1 outcome

HCL Infosystems lost 3.75% to Rs 57.75 at 12:42 IST on BSE, after the company reported consolidated net loss of Rs 49.24 crore in Q1 September 2015, higher than net loss of Rs 45.26 crore in Q1 September 2014.

The result was announced after market hours on Wednesday, 21 October 2015.

Meanwhile, the BSE Sensex was up 212.73 points, or 0.78%, to 27,500.39

On BSE, so far 21.32 lakh shares were traded in the counter, compared with an average volume of 19.89 lakh shares in the past two weeks.

The stock hit a high of Rs 59.35 and a low of Rs 54.80 so far during the day. The stock hit a 52-week high of Rs 78.25 on 29 October 2014. The stock hit a 52-week low of Rs 30.65 on 16 June 2015.

The stock had outperformed the market over the past one month till 21 October 2015, rising 64.38% compared with Sensex's 4.18% rise. The scrip had also outperformed the market in past one quarter, gaining 40.85% as against Sensex's 3.17% fall.

The small-cap company has an equity capital of Rs 44.58 crore. Face value per share is Rs 2.

On a consolidated basis, HCL Infosystems' net sales fell 91.3% to Rs 147.06 crore in Q1 September 2015 over Q1 September 2014.

Premkumar Seshadri, Executive Vice-Chairman and Managing Director, HCL Infosystems said that the ongoing transformation and emphasis on the growth businesses of distribution and services continue to be on track notwithstanding the need to address growth and efficiency simultaneously.

HCL Infosystems is India's premier IT services, solutions & distribution company.

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