Strong services bolster HCL Insys' Q2

NEW DELHI: HCL Infosystems Ltd. (HCL Insys) has reported a net profit after

tax of Rs 17.5 crore on a turnover of Rs 283 crore for the second quarter ended

December 31, 2000 (Rs 16.7 crore net on a turnover of Rs 255.3 crore during the

same quarter in 1999-2000). Net profit after tax for the six months ended

December 31, 2000 is Rs 36.7 crore.

The highlight of this quarter was the company's consolidated services

revenues, which closed at Rs 76.6 crore, taking the first half services revenues

to Rs 146.1 crore, a 50 per cent growth over the year ago period. The percentage

of consolidated services revenue to total revenue during the first half rose to

23 per cent.

HCL Insys' Q2 results reflect a robust growth in the software and services

export business through its five overseas subsidiaries in the US, the UK,

Singapore, Australia and Malaysia. Most of its projects were Web-centric, high

value assignments, requiring expertise in diverse technologies.

Speaking about the performance, company chairman and CEO Ajai Chowdhry said,

"HCL Insys' results reflect a steady growth in profits. Over the years, we

have been successful in defining our business model to achieve our financial

goals. This quarter, we have further reinforced our strength in Total Technology

Integration specially in the services business worldwide."