HCL Infosystems may take hit of Rs 1,000 cr on sagging Nokia biz

HCL Infosystems is likely to take a hit of Rs 1,000 crore in its sales revenues on account of its Nokia business for the financial year. The company's Nokia practice includes its sales, service, business-to-business solutions and joint venture for its online application store OVI. More than 50 per cent of HCL Infosystems revenues come from its Nokia business.

 For the first nine months ended March 31, 2011, the company reported sales of Rs 8,804 crore against Rs 8,845 crore in the same period the previous year. Of this, contribution from telecom distribution business stood at Rs 4,920 crore (Rs 5,509 crore), showing a drop of 519 crore in nine months.