HCL Infosystems reports Rs.1,596-Crore Revenue for Q1 FY2014

HCL Infosystems has declared their financial results for the first quarter ended September 30th, 2013. The company reported Standalone PBT of Rs.7 crore for this quarter.

Harsh Chitale, Chief Executive Officer & Managing Director, HCL Infosystems, said, Our Scheme of Arrangement on Restructuring has become effective from 1st November, 2013. The restructuring would now enable us to have undivided focus and attention on our key growth engines  Distribution and Services business. Our Distribution business witnessed a Q-o-Q growth of 13% backed by robust growth of our Telecom Distribution revenues. Continued growth of our Telecom Distribution for the last two quarters is a testimony that the revamped product portfolio of our Principal is now gaining positive traction in the market.

He added, Our Services business has built a healthy order book on the back of large Managed Services deals, Application Services growth in the Middle East and Break-fix services outsourcing deals. Our Managed Services business continued robust growth in Singapore as well as with a major win from a large Public Board in Singapore.

The Services business saw a Y-o-Y growth of nearly 15% in this quarter. However, our Hardware and Solutions business was significantly affected with an exchange rate fluctuation of as high as 15% during the quarter.

Telecom distribution business registered a 16% growth in Q1FY14 over Q4FY13 owing to robust growth in the First Phone Category as well as in the Windows Phone Category.
Enterprise Services, now part of HCL Services, strengthened its footprint in the enterprise segment and saw Y-o-Y growth of 15% in this quarter. 

HCL Infosystems  Mobility (Tablet) Business registered good growth in the MEA market and also launched many new tablets  Sync 1.0, Connect V3 and Connect 3G 2.0 each in the non-calling, 2G and 3G categories, respectively.