HCL Infosystems Limited has reported a reduction in the losses from Rs 724 million for the quarter ended September 2013 to Rs 452.6 million for the quarter ended September 2014. The net revenues for the company witnessed a fall from Rs 21.80 billion in July-September 2013 to Rs 16.82 billion in July-September 2014.
The loss from operations before other income, finance costs and exceptional items have reduced from Rs 547.8 million to Rs 404.8 million for the period under review.
For the segment results, hardware products and solutions reported a decline in losses from Rs 625.2 million for the quarter ended September 2013 to Rs 478.8 million for the corresponding quarter in 2014. The services segment experienced a loss of Rs 12.2 million in July-September 2014, as against a profit of Rs 57.7 million in July-September 2013. The distribution business of HCL Infosystems witnesses a decline in profits from Rs 244.6 million for the quarter ended September 2013 to Rs 204.7 million for the quarter ended September 2014.
Further, during the quarter, the company completed the sale of its subsidiary RMA Software Park to Vama Sundari Investments (Pondi) Private Limited.
