The consolidated revenue from operations of HCL Infosystems declined by 6.5 per cent to Rs 1,139.36 crore during the reported quarter from Rs 1,218.79 crore in the corresponding quarter of 2017-18, the company said in a filing.
The loss stood at Rs 455.57 crore during the September quarter of 2017-18, according to a BSE filing by the distribution, IT services & solutions company.
The company's revenue from operations almost doubled to Rs 1,136.62 crore in the first quarter of 2018-19, from Rs 575.29 crore in the year-ago period, HCL Infosystems said in a BSE filing.
"The closure of transaction was subject to certain conditions precedent as specified in the Share Purchase Agreement (SPA). Since the buyer has failed to pay the consideration, which is a breach of warranty, HCL Insys has decided to terminate the SPA," the IT firm said in a regulatory filing.
The company board in its meeting held today, approved his resignation effective close of business hours on March 31, HCL Infosystems said in a statement.
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The market breadth was in favour of the declines on Tuesday morning with 780 stocks advancing as against 844 declines while 378 remained unchanged. On the other hand, 1222 stocks advanced and 1149 stocks declined while 76 remained unchanged on the BSE.
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The total number of equity shares to be issued is 10,61,90,299
"S G Murali, Group Chief Financial Officer has informed the company about his decision to relinquish the said position effective September 15, 2017 to pursue new career opportunities," HCL Infosystems said in a BSE filing.
The company in a filing to BSE said that its board in a meeting held today approved the recommendations of its capital raising committee to go for a rights issue of shares to existing shareholders "as a mode of raising equity capital aggregating up to Rs 500 crore".
The HCL Group company inform exchanges that the distributor agreement for distribution of iPhone and other Apple Products has been signed with Apple India Private Limited.