Covid-19 impact: HCL Infosystems Q4 loss widens to Rs 70.94 crore

IT firm HCL Infosystems on Monday said its consolidated loss widened to Rs 70.94 crore for March 2020 quarter from Rs 43.90 crore in the year-ago period.

The company’s revenue from operations also decreased to Rs 227.71 crore in January-March 2020 quarter from Rs 875.60 crore a year ago, HCL Infosystems said in a regulatory filing.

For the full year, its loss stood at Rs 136.33 crore, while revenue was at Rs 1,815.17 crore in FY20, it added.

As on March 31, the group has accumulated losses and its net worth has been fully eroded, it said, adding that its current liabilities exceeded its current assets by Rs 43,235 lakhs (Rs 38,540 lakh in 2019).