HCL Infosystems: Narrowing Losses Amid Arduous Challenges

HCL Infosystems has reduced its losses to Rs 5.25 crore during the December quarter from Rs 9.30 crore in the previous year. Revenue fell by 30.14% compared to last year, with the company focusing on reclaiming overdue payments and managing operational losses through various strategic measures.

HCL Infosystems has reported a notable reduction in its financial losses, narrowing them to Rs 5.25 crore for the December quarter from Rs 9.30 crore a year ago, according to official filings.

The IT giant saw its revenue from operations fall by 30.14% to Rs 5.70 crore, down from Rs 8.16 crore in the previous fiscal year's same quarter.

Manager Raj Sachdeva emphasized the company's focus on collecting long overdue receivables and minimizing operational losses. Despite an uptick in project closures, HCL Infosystems struggles to recover outstanding dues, prompting it to initiate arbitration against several clients. Legal costs and regulatory challenges continue to impact the business outlook.

(With inputs from agencies.)