HCL Infosystems Q1 net profit down by 19.5% | business | Hindustan Times
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HCL Infosystems Q1 net profit down by 19.5%

business Updated: Oct 27, 2010 16:50 IST

HCL Infosystems on Wednesday reported a 19.5 per cent decline in consolidated net profit at Rs.47.46 crore for the first quarter ended Sep 30 from Rs.58.97 crore in the year-ago quarter.

The consolidated revenue for the quarter under review stood at Rs.2,990.7 crore.

While the revenue from computer systems business remained at Rs.898.9 crore, the earnings from telecommunication and office automation business for the quarter stood at Rs.53.7 crore.

The company added 295 people with over 100 in research and development, taking the headcount to 7,000.

HCL is planning to invest over Rs.40 crore in a project to upgrade solutions and applications across the organisation.

The company also declared an interim dividend of Rs.2 per equity share of Rs.2 each for the financial year 2010-11.

At the Bombay Stock Exchange (BSE), the shares of the company were trading 2.87 per cent down at Rs.115.25.