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.


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