HCL reports standalone revenue at Rs 1317 crores

HCL Infosystems has announced its financial results for the third quarter ended March 31st, 2014. 

Harsh Chitale, MD and CEO, HCL Infosystems, commenting on the results said, "Our transformation story is progressing well and is now taking roots. Distribution and Services, our focused growth areas have registered healthy traction. Our portfolio diversification strategy in distribution continues to yield results as our non-telecom distribution business achieved a 12% y-o-q and 25% y-o-y growth. Though our Telecom Distribution business did register a decline in topline, the gross margin expanded on account of increase in scope of engagement. As part of a new initiative, the Telecom Distribution business enrolled 88 new rural distributors in JFM Quarter that will further strengthen its footprint in the country.

"Our Enterprise Services also grew by 8% y-o-q and 9% y-o-y on account of growth in our order book across India, MEA and South-East Asia. While our Break fix Services gained positive traction as a provider of multi-vendor technology support services, our Managed Services expanded its overseas foothold with a large contract in South East Asia.Our hardware-solutions businesses which we had decided to reduce focus on, are transitioning as per plan. However, business model transitions for these businesses led to repositioning charges in the current quarter and may impact next quarter as well," Chitale added.