IT hardware solutions firm HCL Infosystems posted consolidated net loss of Rs 79.97 crore for the quarter ended June 30, 2013 against a net profit of Rs 72.07 crore in the year-ago period.
HCL Infosystems sales fell to Rs 9,244.08 crore from Rs 10,754.05 crore during the same period.
Revenue from hardware products and solutions business for the quarter was Rs 748 crore, taking revenues for the year to Rs 3,355 crore.
Revenue from services business for April-June quarter was Rs 151 crore, taking revenues for the year to Rs 577 crore, while, the revenue from learning business was Rs 43 crore, taking the revenues for the year to Rs 91 crore.
Revenue from distribution business for the quarter was Rs 1,306 crore, taking revenues for the year to Rs 5,702 crore.
“It was a tough year for us with difficult market conditions for our hardware business, high interest costs and high impairment of overdue receivables coupled with issues like rupee depreciation,” said HCL Infosystems CEO Harsh Chitale.
HCL Infosystems strategies
To manage difficult market conditions for its hardware business, HCL introduced new products in the IT, consumer electronics, office automation and lifestyle product categories.
HCL Infosystems’ non-telecom distribution revenues almost doubled this year compared to last year.
Its telecom revenues witnessed upswing in this quarter thereby resulting in our distribution business revenues grow by 13 percent q-o-q.
HCL Infosystems undertook multiple initiatives on go-to-market strategy, operations improvement and cost optimization.
“We took a significant leap forward in our transformation journey this year by initiating the restructuring exercise to align our diverse businesses in different subsidiaries,” Chitale added.