HCL Infosystems shares drop nearly 5 pc after Q2 earnings

Shares of IT company HCL Infosystems on Wednesday dropped nearly 5 percent after the firm posted a widening of consolidated loss to Rs 39.92 crore for the September quarter. The scrip declined 4.93 percent to close at Rs 7.71 on the BSE. During the day, it plummeted 8.38 percent to Rs 7.43.

On the NSE, it tumbled 4.93 percent to settle at Rs 7.70. In terms of traded volume, 1.22 lakh shares of the company were traded on the BSE and over seven lakh shares changed hands on the NSE.

The company's earnings were announced post market hours on Tuesday. The company had posted a loss of Rs 33 crore in July-September 2018, a regulatory filing said.

Revenue from operations also declined over 40 percent to Rs 581.77 crore during the quarter under review from Rs 976.37 crore in the corresponding quarter of 2018-19, it added.