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This is an archive article published on August 16, 2013

HCL Infosystems June quarter loss at R40 cr

The firm had posted a net profit of Rs 2.55 crore in the year-ago period,the company said in a BSE filing.

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IT hardware solutions firm HCL Infosystems has reported a standalone net loss of Rs 40.25 crore for the quarter ended June 30,2013,mainly due to loss from hardware business and increase in finance cost.

The firm had posted a net profit of Rs 2.55 crore in the year-ago period,the company said in a BSE filing.

HCL Infosystems CEO Harsh Chitale said: It was a tough year … with difficult market conditions for our hardware business,high interest costs and high impairment of overdue receivables coupled rupee depreciation.

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