HFCL reports net profit of Rs 117 cr for Q1FY20; revenue at 1,343 cr

Himachal Futuristic Communications Limited (HFCL) on Wednesday reported a net profit of Rs 117 crore for the June quarter (Q1FY20). 

India’s leading telecom infra developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables had reported a net profit of Rs 44 crore in the same quarter last year.

The company's consolidated revenue stood at Rs 1,343 crore and EBIDTA came in at Rs 194 crore.

The all-round performance was powered by change in revenue mix, accelerated project execution and efficiency improvement.   

Commenting on the performance, Mahendra Nahata, the Managing Director said, "While Q1FY20 can be termed as an excellent Quarter for HFCL, what is more remarkable is the consistency at which the Company is able to deliver stellar performance. The holistic strengthening of organisational capabilities undertaken over the last 7-8 quarters is beginning to show the results." 

Reflecting on the road ahead for HFCL, Nahata added, "We are focused on new products and technologies which shall open additional growth avenues and ensure sustainability. We also continue to leverage our core strength of design, development and management of communication networks in newer application domains such as railways, defence  and safe & smart cities. In addition to export of Optical Fiber Cables, we are also expanding our business geographies in new domains."