HCL Insys Posts Rs 41.4 Crore Consolidated Net Profit In Q2

New Delhi: | Updated: Jan 29 2004, 05:30am hrs
HCL Infosystems Ltd has reported a consolidated net profit of Rs 41.4 crore in the second quarter ending December 2003 against a net loss of Rs 0.19 crore in the corresponding period last year. The companys consolidated revenue increased to Rs 1042.9 crore during the second quarter from Rs 625.5 crore last year in the same period.

The companys consolidated operations include the telecommunication, computer systems and office automation business besides the software and Internet operations.

The board of directors has declared a second interim dividend of 50 per cent. During the first quarter, ending September 30, 2003, an interim dividend of 30 per cent was declared. For the year ending June 2003, the company had declared a final dividend of 100 per cent.

Computer systems business revenues grew to Rs 373.9 crore as against Rs 240.1 crore in the same quarter of the previous year, a growth of 56 per cent. Profit before interest and taxes was Rs 31 crore for the second quarter ended December 2003.

Revenue from the office automation and telecommunication business revenue grew to Rs 664.4 crore as against Rs 347.3 crore in the corresponding quarter of the previous year, a growth of 91 per cent. The companys earning per share (EPS) increased to Rs 12.98 (basic) in the second quarter ending December 2003 from a negative Rs 0.06 (basic).

The recent positive announcements by the government in excise and custom duty reduction on computers and mobile phones will help in growing the market and our business as well, HCL Infosystems chairman and chief executive officer Ajai Chowdhry said.