HCL Infosystems shares fall 7% on result

HCL Infosystems' shares reached their lowest level in more than 2 years.

Written by Agencies
New Delhi | August 18, 2011 05:54 PM IST

1 min read

HCL Infosystems’ shares dropped 7 percent to reach their lowest level in more than 2 years,a day after the company posted a 83 percent fall in net profit for April-June.

The computer-maker’s systems integration business continued to be severely impacted by slow down in projects and customer decision cycles,and it may see pressure on costs due to further delays in projects,HCL Info said in a statement late on Wednesday.

The company’s June-quarter profit stood at 114.8 million rupees,compared with 672.3 million rupees,a year back. At 1:15 pm,the company’s shares were down 7.07 percent at 69 rupees.

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