HCL Infosystems to consider sale of select businesses after loss widens

Noida-based information technology services company HCL Infosystems has reported a loss amounting to ₹40 crore for the first quarter ended June 30, widening from around ₹29 crore in the corresponding period last year.

The company is considering sale of its select businesses and assets to reduce its debts and finance cost burdens, it said in a statement adding that it was “monitoring its businesses, to assess requirement of any further restructuring or rationalisation required in order to reduce the financial losses.”

The company’s revenue also fell to ₹681 crore during the first quarter, down more than 39 per cent from ₹1,123 crore in April-June quarter last year.