HCL Infosystems Reports Revenue of Rs. 685 crore in Q1 FY 2018

New Delhi [India], July 27 (ANI-BusinessWire India):HCL Infosystems, India's pioneer IT services, solutions and distribution company, today announced its financial results for the quarter that ended on June 30, 2017. "The planned focus on the enterprise business has been maintaining its growth course while in the consumer business we are steadfast in our transition from single-brand to a multi-brand business model. Both are integral to the company's onward transformation journey," said executive vice-chairman and managing director of HCL Infosystems Ltd, Premkumar. The core enterprise business (consisting of enterprise products distribution, domestic enterprise services, global enterprise services and care services) continued on its positive growth track. The focus of the company in building capabilities in emerging technologies resulted in further strengthening of its portfolio in this segment through partnerships such as the one with Parablu to offer cloud data protection and management solutions to enterprises across the country. The enterprise products distribution business continued its consistently robust performance with 10 percent growth in QoQ and 11 percent in YoY revenue. During the quarter, the business launched a comprehensive channel partner program to provide promotional and financial incentives to its partners. Higher sales were also achieved from channel partners. The enterprise services business (comprising domestic services, global services and care services) clocked revenue of Rs. 212 crore in Q1 FY18 with a revenue decline of eight percent QoQ. The decline in revenue can be partly attributed to the office automation consumables business being regrouped with the enterprise distribution business due to better business synergies. Also, ongoing contract rationalization for profitability improvement has impacted revenues in this business. The consumer distribution business is focused on new tie-ups with leading telecom OEMs as part of its multi-brand telecom distribution strategy. Though there have been ongoing discussions with OEMs, the ongoing transition from a single-brand into a multi- brand distribution has impacted revenues. Revenue declined 58 percent from Rs. 163 crore in Q4 FY17 to Rs. 69 crore in Q1 FY18. The SI and solutions business registered revenue of Rs. 40 crore during the first quarter of FY18. The total order book size stood at Rs. 715 crore as on 30 June, 2017. The focus remained on completion of major projects and collection of receivables even as projects valued at Rs. 60 crore were billed in this quarter. The flagship UIDAI project crossed the milestone of enrollment of more than 115 crore Aadhaar cards. (ANI-BusinessWire India)