India's HCL Infosystems falls as Q1 loss widens

HCL Infosystems

01/08/2019 06:29

** Shares of HCL Infosystems Ltd  HCLI.NS  down as much as
6.6% to 10.65 rupees 
    ** June-qtr loss widened to 399.7 mln rupees ($5.79 mln)
compared with loss of 286 mln rupees a year ago   
    ** Revenue dived 40% to 6.81 bln rupees compared with 11.29
bln rupees in the previous year
    ** Consumer Distribution businesses had a subdued
performance in revenue and margin. Consumer business suffered
due to a lack of exclusive product line-up by the principal in
e-commerce space. Enterprise business was impacted by
competitive environment and market slowdown - Managing Director
Rangarajan Raghavan said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/8c5035b3-8a58-40fd-ba44-6ebed5d167e3.pdf
    ** Up to last close, stock down 54.5% this year

($1 = 69.0700 Indian rupees)

 (Reporting by Harish Bhaskar in Bengaluru)
 ((Harish.Bhaskar@thomsonreuters.com; +91 9886782831; Reuters
Messaging: harish.bhaskar.thomsonreuters.com@reuters.net))