HCL Infosystems' Q4 net down 7%

The rupee’s depreciation against the dollar, coupled with a drop in volumes across all segments of products and services, led to hardware and systems integrator HCL Infosystems post a 7.2 per cent year-on-year fall in profit after tax (PAT) for the quarter ended June 30. PAT for the quarter was Rs 60.4 crore, compared with Rs 65.1 crore in the year ago period.

Gross sales growth in the period was flat at Rs 3,132.9 crore compared with Rs 3,130.9 crore in the corresponding quarter a year earlier.

“The year saw continued impetus in the system integration business, with exciting projects across segments. HCL’s future growth strategy deeply focuses on India, the fast growing ICT market and this is sure to consolidate our position in the Indian ICT market,” said Ajai Chowdhry, Chairman & CEO.

On a sequential basis, PAT rose 3.7 per cent from Rs 58.2 crore in the trailing quarter, while gross sales were up 3.6 per cent from Rs 3,023.8 crore.

For the full year ended June 30, HCL Infosystems’ PAT was Rs 239.9 crore, down 20 per cent from Rs 300 crore last year. Gross sales, at Rs 12,378.5 crore, were down 0.19 per cent from Rs 12,402.6 crore in the previous year.

The company registered a foreign exchange gain of Rs 6.8 crore in the quarter.

The stock closed at Rs 157.5, up 2.21 per cent on the Bombay Stock Exchange’s Sensex.