UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
31st March, 2000

(Figures in Rs. Lacs)

Sl.
No.

Particulars

Unaudited three monthsended 31st March

Unaudited nine monthsended 31st March

Audited Year Ended

2000

1999

2000

1999

30.06.99

1.

Net Sales/Income from Operations

31819.45

25138.03

79404.81

68432.73

94603.76

2.

Other Income

142.20

65.45

953.54

316.09

388.28

3.

Total Expenditure

a)

(Increase)/Decrease in Stock in trade

96.46

-81.07

78.87

-995.85

-1652.94

b)

Cost of Sales including Excise Duty

23915.75

18274.61

58611.23

49340.59

68521.75

c)

Staff cost

2135.83

1817.13

5764.26

5198.14

7193.33

d)

Administration, Selling & Repairs cost

3177.50

2913.33

8160.58

9085.61

11964.04

4.

PBIDT (1 + 2 - 3 )

2636.11

2279.48

7743.41

6120.33

8965.86

5.

Voluntary Retirement Scheme

511.13

511.13

404.71

6.

Interest (Net)

99.37

276.33

486.00

758.24

956.58

7.

Depreciation

305.41

279.42

951.67

897.84

1153.15

8.

Profit before Tax (4-5-6-7)

1720.20

1723.73

5794.61

4464.25

6451.42

9.

Provision for Taxation

100.00

325.00

510.00

325.00

599.02

10.

Net Profit After Tax (PAT) (8-9)

1620.20

1398.73

5284.61

4139.25

5852.40

11.

One Time Adjustment of Services

777.00

1990.00

2360.85

12.

Profit available for appropriation

1620.20

621.73

5284.61

2149.25

3491.55

13.

Paid-up Equity Share Capital

3190.58

3190.58

3190.58

3190.58

3190.58

14.

Reserves excluding Revaluation Reserves

16719.12

15.

Basic EPS (not annualised) Rs/share (Calculated on PAT)

5.08

4.38

16.56

12.97

18.34

NOTES :

• The above results have been taken on record at the Meeting of the Board of Directors of the company held on 18th April, 2000.
  
  During the current quarter the company has implemented the final phase of the Voluntary Retirement Scheme which was introduced last year, and accordingly a provision of Rs 511 L has been made in the accounts.
  

• Provision for Tax for the quarter is estimated, subject to audit and final computations of various tax exempt units. The tax provision made in the quarter ended 31st March '99 was for the full year ending on that date, and hence is not comparable with the figures for the current quarter and nine months.
• "Other Income" for the current quarter stands reduced by Rs 26 lacs, being the net impact of income from investment/loss on sale of investment. The current nine month period also includes Rs 480 lacs as profit from sale of office premises.
• During the current quarter the company has invested in its subsidiaries Infosystems (Bermuda) Ltd and HCL Infinet Ltd, Rs 86.94 lacs and Rs 0.50 lacs respectively.
• During the current quarter the company has setup three new STPs, one each in Noida, Chennai & Hyderabad.
• Accounting Policy for revenue recognition was modified during the financial year ended 30th June, 1999. Consequently the impact has been reflected as "One time adjustment of services" in the unaudited results for the relevant periods.
• Figures of previous year are regrouped/recast to conform to current year's presentation to make them comparable.

By order of the Board
for HCL Infosystems Limited

Place : Noida
Date : 18th April, 2000

AJAI CHOWDHRY
Chairman & Chief Executive Officer

INCOME AS PER US GAAP

The Board of Directors have taken on record the Unaudited Reconciliation of Profit after Tax for the quarter ended 31st March, 2000 with that as per US GAAP.

Three Months ended 31st March

2000 *

1999 *

INR
(Rs L)

US$ '000's

INR
(Rs L)

US$ '000's

Profit after Tax under Indian GAAP

1620

3738

1399

3227

Accrued Income on lease/Extended warranty Income

181

417

-415

-959

Depreciation

82

188

-

-

Income/Loss in subsidiary

-182

-420

Income under US GAAP

1700

3923

983

2268

* Currency translation rate $1 = Rs.43.34