HCL Infosystems reports net loss of Rs 49.24 cr

IT services and distribution firm HCL Infosystems today reported widening of consolidated net loss to Rs 49.24 crore for the first quarter ended September 30, 2015.
The company follows July-June quarter.
HCL Infosystems had reported a net loss of Rs 45.26 crore in the corresponding period last fiscal, it said in a filing to the BSE.
Income from operations of the company also declined to Rs 1,470.60 crore for the reported quarter as compared to Rs 1,682.88 crore last year.
The company said its consumer distribution business posted a revenue of Rs 873 crore whereas enterprise distribution business posted revenue of Rs 202 crore for the reported period.

"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 Executive Vice Chairman and MD Premkumar Seshadri said.
The services business, consisting of enterprise and consumer services, achieved 22 per cent year-on-year growth on the back of a maturing portfolio, it added.
Enterprise services business revenue stood at Rs 211 crore for the reported period.