According to the auditor’s note, HCL Infosystems group has accumulated losses and its net worth has been fully eroded as on September 30, 2022.
The group’s current liabilities exceeded its current assets by Rs 489.84 crore during the July-September period.
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HCL’s revenue from operations more than halved to Rs 6.93 crore during the quarter under review from Rs 15.54 crore in the corresponding period of the preceding year.