HCL Infosystems Q3 net up 49.4%

NEW DELHI: HCL Infosystems Ltd has posted a net profit of Rs 36.35 crore for the third quarter ended March 31, 2004 (MQ-04) as compared to a net profit of Rs 24.33 crore for the quarter ended March 31, 2003 (MQ-03), an increase of 49.4 percent. Total income has increased from Rs 340.47 crore in MQ-03 to Rs 432.31 crore in MQ-04, an increase of 26.9 percent.

The consolidated net profit of the Group declined marginally by .23 percent to Rs 55.47 crore for the quarter ended March 31, 2004 (MQ-04) as compared to a net profit of Rs 55.6 crore for the quarter ended March 31, 2003 (MQ-03). Total income has increased from Rs 740.37 crore in MQ-03 to Rs 1202.7 crore in MQ-04.

The BoD of HCL Infosystems Ltd have approved the payment of 60 percent third interim dividend on the paid up share capital of the company for the year 2003-2004.

Announcing the results, HCL Infosystems chairman and CEO Ajai Chowdhry said, "This has been a satisfying quarter for us on multiple fronts. Our business grew robustly in all areas, made possible by high quality cutting edge products & excellent customer service. The government’s initiative in encouraging PC manufacturing by lowering the taxes resulted in increasing of volumes. We also got excellent support from all our key partners like Intel, AMD, Microsoft, Toshiba, Nokia & Ericsson."

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