HCL Infosystems announces its Financial Results

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

HCL Infosystems announces its Financial Results

HCL Infosystems has announced financial results for its first quarter ending September 30, 2011. During this quarter, the SI business has been impacted by continued slowdown in projects and customer decision cycles. The BFSI vertical bagged various orders from the leading banks to undertake Financial Inclusion mandates including banking for the unbanked. Several banks and financial institutions like Dena Bank, State Bank of Travancore, State Bank of India, Mahindra Finance, etc. had solutions deployed by the company.

Harsh Chitale, CEO, HCL Infosystems Ltd., said, "The quarter recorded strong positive movements in the B2C Computing, led by turnaround in consumer computing on the strength of a reinvigorated product mix. Our distribution business performed extremely well with better traction of new models of a leading telecom brand in the portfolio. Overall System Integration business continued to be severely impacted by slowdown in projects and customer decision cycles. Our Learning Business consistently grew market share and also recorded year-on-year growth. B2B Computing and Office Automation Business did have significant declines YOY due to reduction in spending by government sector. I am confident that the companywide business excellence programme "Aspire" triggered over the last two quarters to realign the organization to drive cost and working capital efficiencies and to re-position for future growth opportunities will over the next few quarters show positive results in terms of both bottom-line as well as cash flow performance."

Company also won large multiyear contract for nationwide Infrastructure Managed Services engagement from a leading Pharma company in India. The Office Automation Business won various orders from organizations like All India Radio (Delhi), Doordarshan, Cisco, Vodafone, Reliance Life Insurance, etc. HCL Digischool grew YOY by 100%. HCL Learning recently in the month of October also tied up with Annamalai University to launch the MBA-IMS Programme (Infrastructure Management & Security) via distance learning mode.


For More Details See

www.varindia.com

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’...
Read more

Prizm Payment Services changes its name to Hitachi Payment Services

Image
Hitachi Payment Services Pvt. Ltd has changed its corporate name from Prizm Payment Services Pvt. Ltd (“Prizm Payment Services”) to Hitachi Payment Services Pvt. Ltd (“Hitachi Payment Services”). “The new name reflects Hitachi’s commitment to business expansion in India, and to build a strong global financial payments offering leveraging the expertise of the Prizm Payment Services acquisition. Hitachi sees immediate potential to grow in the Asian subcontinent markets with the epicentre of growth being India, and migrate into other markets. Also, the name change will have no change on Prizm Payment Services’ operations,” said Loney Antony, Managing Director, Hitachi Payment Services. “Hitachi had acquired Prizm Payment Services with the aim of accelerating global development of IT services businesses targeting financial institutions, particularly in the fast-growing Asian region, and the company has been the gateway of entering into the services business in India for Hitachi. We ...
Read more