HCL Infosystems posts Q2 loss at Rs 10 crore

IT company HCL Infosystems on Tuesday posted a consolidated loss of Rs 10 crore in the second quarter ended September.

The company had posted a consolidated profit of Rs 13 crore in the same period a year ago, it said in a regulatory filing.

According to the auditor’s note, HCL Infosystems group has accumulated losses and its net worth has been fully eroded as on September 30, 2022.

The group’s current liabilities exceeded its current assets by Rs 489.84 crore during the July-September period.

HCL’s revenue from operations more than halved to Rs 6.93 crore during the quarter under review from Rs 15.54 crore in the corresponding period of the preceding year. PTI