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HCL Infosystems Q3 net up 3% at Rs60 cr

HCL Infosystems Q3 net up 3% at Rs60 cr
PTI
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First Published: Fri, Apr 30 2010. 07 29 PM IST
Updated: Fri, Apr 30 2010. 07 29 PM IST
New Delhi: IT firm HCL Infosystems on Friday posted an increase of 3.44% in consolidated net profit at Rs6009 crore for the quarter ended 31 March, 2010.
However, its net sales declined by 5.88% to Rs2,814.50 crore for the quarter ended 31 March, 2010 from Rs2,9960.17crore in the same period last year.
“The drop in sales has been on account of our telecom business. The quarter saw a lot of launches in the low-cost and dual-SIM handsets segment, where Nokia did not have a lot of inventory,” HCL Infosystems chairman and CEO Ajai Chowdhry told reporters.
HCL Infosystems distributes the mobile handsets of the Finnish firm Nokia in India.
The board has proposed a third interim dividend at Rs2 per share on the face value of Rs2 each for the year 2009-2010.
The company is also bullish on the UID project (now called Aadhar). It will bid for providing end-to-end solutions for the UID cards, Chowdhry said.
“We are already providing similar solutions in Chandigarh for PDS and can leverage it to Unique Identification (UID) as well which would be awarded at state-level,” Chowdhry said.
This would include engaging in data collection through registration devices, back-end management and issuing cards.
The company would also bid for training enrolling agents under the UID project, which aims at training over one lakh enrolling agents, throwing up opportunities for large training companies like NIIT, Aptech and HCL Infosystems.
Talking about the future roadmap, Chowdhry said, “We have continuously been expanding towards building more expertise, introducing various services, products and new practice areas and will continue to focus on that.”
Such initiatives include addition of system integration applications, application services and enterprise solutions to strengthen and consolidate service offerings, he added.
“With a focus on new product development, we have worked on IP creation for over 30 products,” he said, adding that “HCL is also looking at augmenting services, exports and inorganic growth through possible mergers and acquisitions.”
The company, which already has a presence in the African region, is now eyeing the Middle East and South East Asia as growth opportunities.
Its employee strength stood at over 6,500 people as on 31 March, 2010. Its revenues from computer systems business stood at Rs932.43 crore for the quarter ended March 2010. Revenues from telecommunications and office automation stood at Rs1,884.67 crore, while Internet and related services contributed Rs17.68 crore in the reporting quarter.
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First Published: Fri, Apr 30 2010. 07 29 PM IST
More Topics: Company Results | HCL Infosystems | IT | UID | Adhar |