HFCL Results: Q2 profit up 61pc to Rs 86 cr
There was a strong order book during the quarter. Our capacity utilisation remained at optimum level across all the manufacturing facilities especially fibre optic cables and optical fibre plants. Timely execution of the projects added to the growth during the quarter, HFCL Managing Director Mahendra Nahata told PTI
Domestic telecom gear maker HFCL on Monday posted a 61.18 per cent jump in its consolidated net profit to Rs 85.94 crore in the September quarter.
The company had posted a profit of Rs 53.32 crore in the corresponding period a year ago.
See Zee Business Live TV Streaming Below:
The consolidated revenue of HFCL during the second quarter of FY22 increased by 6.42 per cent to Rs 1,122.05 crore from Rs 1,054.32 crore in the year-ago period.
"There was a strong order book during the quarter. Our capacity utilisation remained at optimum level across all the manufacturing facilities especially fibre optic cables and optical fibre plants. Timely execution of the projects added to the growth during the quarter," HFCL Managing Director Mahendra Nahata told PTI.
The company had an order book of around Rs 6,000 crore during the reported quarter.
"The orders are to be delivered within the next 9-12 months. Our growth would have been higher had there been no shortage in semiconductor supplies," Nahata said.
He said that the company's shift towards margin and cash flow accretive components of telecom products and capital efficient projects would continue to strengthen profitability ratio while research and development focus will keep the company ahead of the curve of technological advancements.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.