HCL Infosystems reports revenue of Rs 881 Crore in Q2 FY 2018
ANI | Updated: Oct 26, 2017 07:52 IST
New Delhi [India], Oct. 26 (ANI-BusinessWire India): HCL Infosystems, India's pioneer IT Services, Solutions and Distribution Company announced its financial results for the quarter ended September 30, 2017.
"The company's transformation journey is on course with the new multi-brand consumer distribution business model achieving a significant growth in revenue. The consolidation and optimization in our enterprise business continues on its planned path. Due to right sizing of our portfolio in enterprise services, an impairment charge for goodwill of Rs. 390 Crore was taken in the books," said Premkumar, Executive Vice-Chairman and Managing Director, HCL Infosystems Ltd.
In this business, the transition from a single-brand into a multi-brand distribution model has witnessed early success. The consumer distribution business has achieved robust traction in the quarter with revenue of Rs. 299 crore, up from Rs. 69 crore in the previous quarter.
Tie-ups with leading telecom OEMs like HMD Global and release of new Nokia models enabled the business to report a robust growth. The business also witnessed increased traction in strategic channels like ecommerce.
The company also signed a distributor agreement for distribution of iPhone and other Apple products with M/s Apple India Private Limited (M/s Apple) in the quarter. The business also distributed the iPhone 8 and iPhone 8+ in aligned territories and channels.
The core enterprise business (consisting of enterprise products distribution, domestic enterprise services, global enterprise services and care services) continued on its planned journey.
The enterprise products distribution business posted revenue of Rs. 316 Crore with the channel performing in a robust manner. The business also won engagements from marquee customers in areas such as high performance computing and virtualization solutions.
The enterprise services business (comprising domestic services, global services and care services) had revenue of Rs. 235 Crore in Q2 FY18.
The build phase of projects in HCL's SI and Solutions business is nearing completion and the business registered revenue of Rs. 43 Crore during the second quarter of FY18. The total order book size stood at Rs. 816 Crore as on September 30, 2017. (ANI-BusinessWire India)