Revenue from discontinued operations in Q1FY19 was Rs. 31 Crore and Profit / (Loss) before tax was Rs. 11.7 Crore including gain of Rs. 9.6 Crore from sale of divested businesses.
HCL Infosystems announced its financial results for the quarter ended June 30th, 2018.
Mr. Rangarajan Raghavan, Managing Director, HCL Infosystems Ltd., commenting on the results said, “In FY18 we had set a roadmap to focus on a few core businesses – Distribution and Overseas Services. In this quarter we kept our focus and continued on this track. This has borne good traction as both the Distribution and Singapore Services business registered steady performances in the quarter.”
The Distribution Business reported revenue of Rs. 986 Crore in the quarter.
Enterprise Distribution had revenue of Rs. 457 Crore in the quarter with a growth of 3% Q-o-Q. The channel business performed well in this quarter as well. During the quarter, the Enterprise Distribution team continued to work towards enhancing its offerings in emerging digital technologies. Accordingly, capabilities were created specifically in the Security and Cloud practice for future growth.
Consumer Distribution reported revenue of Rs. 529 Crore in the quarter with a growth of 14% Q-o-Q. The uptake in revenue was a result of the traction gained from the multi-brand and multi-channel business model. The revenue from the distribution partnership with HMD Global for Nokia handsets continued to grow substantially. Other partnerships include Samsung and Microsoft Surface. During the quarter, the operator segment of the business commenced with a partnership with Airtel for Nokia Devices while the E-commerce channel remains a focus segment for HCLI Consumer Distribution.
Apple India Pvt. Ltd. informed the company that the Distribution Agreement for iPhone and other Apple Products will not be extended beyond March 30, 2019. Revenue in the current quarter from Apple business is Rs. 352 Crore, however, there was no significant gain from this line of business in the quarter.
The Services business in Singapore remained steadfast on its profitable growth path. The business renewed and expanded engagements with more agencies within its ATFM (Agency Tenant Facility Management) contract.
As part of its automation initiatives, the business further enhanced the end user’s computing device needs by adopting self-healing technologies. The additional capability was also built in its DevOps offering.
Employees were given the training to build competencies in Datacenter and Networking technologies during the quarter as a part of the skill enhancement plan of the company.