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HCL Infosystems has widened its loss in the quarter ended December 31, 2014, at ₹50.82 crore, the company announced on Thursday. During the same quarter of the previous fiscal the company had posted a loss of ₹44.15 crore.
The company’s scrip took a beating on the Bombay Stock Exchange on Friday on the back of this news and ended the day at ₹44.35 apiece, after tumbling 10.49 per cent during the day’s trading hours.
The company starts its fiscal from July 1 of every year.
Even as the company’s revenues from services increased to ₹230.36 crore during the second quarter ended December 31, 2014, as against ₹189.64 crore recorded in the same quarter of the previous fiscal, a big drop in hardware products and solutions, distribution and the learning segments resulted in the company’s net income dropping 25 per cent to ₹1,450.52 crore.
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