HCL Infosystems posts Rs 28.67 crore loss in Oct-Dec
New Delhi: IT company HCL Infosystems on Thursday posted loss of Rs 28.67 crore on standalone basis for the three months period ended December 31, 2012.
The company had posted net profit of Rs 9.11 crore for the same period a year ago.
"Our profitability in this quarter was significantly impacted due to various transient factors including receivables impairment, unfavourable exchange rate fluctuation while servicing a large-size PC order from a State Government, interest costs on working capital in government projects and increase in branding expenses," HCL Infosystems said in a statement.
These factors together had a total impact of around Rs 40 crore on its bottomline sequentially this quarter, it added.
The income from operations of the company declined by 4.3 percent during the reported quarter stood at Rs 2,472.2 crore compared to Rs 2583.41 it posted during the corresponding period in previous financial year.