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Our Bureau

New Delhi , April 19

HCL Infosystems on Tuesday posted an 18-per cent rise in its consolidated net profit for the third quarter at Rs 65.4 crore compared to Rs 55.47 crore in the year-ago period, even as the revenues crossed $1-billion mark in the nine-month period ended March 31, 2005. The board of directors has also recommended sub-division of the company's equity share of Rs 10 each into five equity shares of Rs 2 each.

The stock split, which would reduce the entry price for new retail investors and also enhance the liquidity of the company's shares, is subject to the approval of the shareholders.

"Since the last two years we have seen the share price of the company increasing steadily. We felt that we should reduce the entry price for the new retail investors. With this, the entry price for the share would get reduced from about Rs 800 at present to about Rs 160. It will make it easier for retail investors to get in and also raise the liquidity," Mr Ajai Chowdhry, Chairman and CEO, HCL Infosystems, told Business Line.

According to a company statement, HCL Infosystems registered consolidated revenue of Rs 2,011.8 crore during the quarter ended March 31, 2005 against Rs 1,192.5 crore in the corresponding quarter of the previous year, reflecting a growth of 69 per cent. The net profit stood at Rs 65.4 crore (Rs 55.47 crore). While revenue from the Computer Systems business was Rs 537 crore (Rs 424.1 crore), a growth of 27 per cent, that from the Office Automation and Telecommunication business was Rs 1466.8 crores (Rs 764 crore), an increase of 92 per cent.

The company has reported consolidated revenue of Rs 5,586.1 crore during the nine months ended March 31, 2005, while the net profit was pegged at Rs 168.66 crore. The board has also declared a third quarterly interim dividend of Rs 7 per share (70 per cent on an equity share of par value of Rs 10 each).

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