UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
30th September, 2000

(Figures in Rs. Lacs)

Particulars

Unaudited Three Months Ended

Audited

30th September

Year Ended

2000

1999

30.06.2000

Net Sales/Income from Operations

29256.21

22675.19

112492.14

Other Income

212.89

195.92

1125.74

Total Expenditure

Increase/Decrease in stock in trade

1392.62

-97.83

-779.07

Cost of sales including Excise Duty

20825.63

16508.99

85381.36

Staff cost

2405.66

1762.34

8450.68

Administration, Selling & Repairs cost

2409.81

2443.87

10938.56

PBIDT (1+2-3)

2435.38

2253.74

9626.35

Interest (Net)

42.40

256.91

516.80

Depreciation

271.48

324.00

1268.46

Profit before Tax(4-5-6)

2121.50

1672.83

7841.09

Provision for Taxation

200.00

160.00

535.00

Net Profit After Tax(PAT) 7-8

1921.50

1512.83

7306.09

Paid-up Equity share capital

3190.58

3190.58

3190.58

(Face value per share in Rs.)

10.00

10.00

10.00

Reserves excluding Revaluation Reserves

23052.20

Basic EPS (Not annualised) Rs./share

6.02

4.74

22.90

• The above results have been taken on record at the Meeting of the Board of Directors of the Company held on 18th October, 2000.
• Provision for Tax has been estimated, subject to audit and final computations of various tax exempt units.
• Pursuant to the approval of the shareholders at the Extra ordinary General Meeting held on 25th February,2000 and the Board of Directors at their meeting held on 10th August ,2000, 3009400 options (each conferring on the employee a right to get one equity share of Rs.10 each at an exercise price), have been granted to employees at an exercise price of Rs.289.00 being the market price at the grant date.
• During the current quarter the company has subscribed Rs.1450 lacs towards equity in its subsidiary HCL InfiNet Limited.
• Figures of previous quarter have been regrouped/recast to confirm to current year's presentation.

(AJAI CHOWDHRY)
President & Chief Executive Officer

INCOME AS PER US GAAP

The profit reconciliation with that as per US GAAP is as under. This has been prepared by adopting US GAAP for major components of the financial statements.

Three Months ended 30th September

2000 *

1999 *

INR (Rs L)

US$ '000's

INR (Rs L)

US$ '000's

Profit after Tax under Indian GAAP

1922

4232

1513

3332

Accrued Income on lease

42

93

112

247

Extended warranty/ unbilled S/W/other adjustments

36

80

90

198

Depreciation

64

140

104

229

Income/Loss in subsidiaries

-354

-780

-31

-68

Income under US GAAP

1710

3765

1788

3938

* Currency translation rate $1 = Rs.45.40