HCL Infosystems posts 13% YoY sales growth, net loss widened in Q2 FY24

HCL Infosystems has announced its consolidated financial results for the quarter ending September 2024.

Net sales for the quarter stood at Rs. 6.79 crore, marking a year-on-year increase of 13.36% from Rs. 5.99 crore in the same period last year.

However, the company faced significant financial challenges, reporting a net loss of Rs. 7.84 crore for the quarter, a sharp increase of 261.98% from the Rs. 4.84 crore loss posted in September 2023.

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at a negative Rs. 7.64 crore, marking an 11.37% decline from Rs. 6.86 crore in the same quarter last year.

Shares of HCL Infosystems closed at Rs. 16.99 on December 06, 2024, on the National Stock Exchange (NSE). Over the last six months, the stock has declined by 1.22%, and over the last 12 months, it has dropped by 6.65%, reflecting investor concerns amid the company’s financial losses.

CT Bureau