Shares of HCL Infosystems declined practically 5% after the I.T. agency reported a lack of Rs 34.32 crore for the quarter ended December.

The losses are totally on account of delayed receipts on sure system integration contracts, sure historic low margin contracts, slow-down of distribution companies and finance prices, the corporate submitting stated.

In the meantime, the corporate’s board of administrators has additionally accredited the sale of its wholly-owned subsidiary HCL Infotech to Novezo Consulting at a purchase order worth primarily based on the enterprise worth of HCL Infotech as of the date of the share switch.