HCL Infosystems Q1 loss narrows to Rs 36.86 cr, revenue down at Rs 105.7 cr

IT firm HCL Infosystems on Thursday reported narrowing of its loss to Rs 36.86 crore for the quarter ended June 30, 2020.

The company had posted a loss of Rs 39.97 crore in the year-ago period, HCL Infosystems said in a regulatory filing.

Consolidated revenue from operations decreased to Rs 105.69 crore in the quarter under review from Rs 576.96 crore in the year-ago period, it added.

The parent company’s management is pursuing strategies including scale down of loss-making businesses, sale of certain non-core properties and reduction in outstanding debts, it said.

Distribution business revenue in the June 2020 quarter was about Rs 70 crore, while that from system integration and solutions business stood at about Rs 36 crore.