Latest News | HFCL Q2 Profit Up 61pc to Rs 86 Cr

New Delhi, Oct 11 (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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)