HCL Infosystems gearing up for future growth opportunities

By SiliconIndia   |   Friday, 29 April 2011, 05:42 Hrs
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Bangalore: HCL Infosystems announced financial results for its third quarter which ended on March 31, 2011.

In the event HCL displayed its key developments, initiatives and quarter analysis. The Computer Services business continued to grow recording positive growth of 20 percent YoY for the quarter ended March 2011. Similarly, the office automation business recorded a 7 percent growth YoY for the quarter ended March 2011.

Harsh Chitale, CEO of HCL Infosystems, said "During the quarter the System Integration business was adversely impacted by the delays in the decision making in various governments and public sector undertaking led projects. Our distribution business also experienced a significant decline with a leading telecom brand in our portfolio recording a dip in revenues. However, our computer services, office automation and education and learning business continued to register a healthy growth. This quarter we also kick-started a companywide business excellence program with an objective to re-align the organization to drive cost and working capital efficiencies and to re-position it for future growth opportunities. These programs are expected to start showing results in terms of bottom-line as well as cash flow performance over the next 12-15months"

The system integration business opened the quarter with a healthy backlog and added to the same as Rs 750 crore of additional orders (TCV) were booked during the quarter.

During the quarter, SI Business bagged various orders from leading banks like PNB, PSB, SBI, Canara Bank to undertake Financial Inclusion mandates. SI Business also bagged orders across sectors like Indian Railways for a broadband deployment, over 138 crore RAPDRP project for deployment in Jharkhand; project from Indian Air Force over 300 crore to deploy the Wideband CDMA based Portable Wireless Network covering many Air Force Stations across India.

HCL Learning, the education and training division on the company recorded growth of over 233 percent YoY for the quarter ended March 2011 and a growth of 183 percent YoY over the last 9 months. Over 2200 classrooms have been signed up for the DigiSchool Solution of this business.

HCL Cloud Services 'Ozone' added new offerings in the area of Infrastructure as a service, HRM, Mail and Hospital information systems (HIS).

The company also introduced its range of HCL ME Tablets.The Board of Directors declared 100 percent quarterly Interim dividend. This is the 31 continuous quarter for dividends.

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