HCL Infosystems net profit dips

IT hardware firm HCL Infosystems on Friday reported a net profit of Rs 55.98 crore for the quarter ended December 31, 2010, despite having an all-time high order book this quarter. The net profit a year ago stood at Rs 56.09 crore, HCL Infosystems said in a statement.

“This quarter has witnessed our growth programmes kicking in, with us ending it with an all-time high order book. There have been some key wins in the system integration space across sectors, further strengthening our order pipeline and on the other hand, our computer hardware business has also recorded good growth,” Chief Executive Officer, Harsh Chitale, said.

The company bagged systems integration orders of over Rs 455 crore during the quarter. Consolidated revenues, however, increased by almost 3 per cent to Rs 31,15.14 crore for the reported quarter, from Rs 3,031.49 crore in the year-ago period.

The company's board of directors declared a 100 per cent quarterly interim dividend of Rs 2, per fully-paid share of Rs 2 each, for the year 2010-2011.

Chairman Ajai Chowdhry said, “As we’re growing business, there are investments being made for capacity building, along with seeking opportunities to both grow organically and inorganically...we're are actively looking at inorganic growth with a focus to expand both the geographical presence and further enhance our IT services capability.”