HFCL spurts on bagging orders worth Rs 202.60 crore

HFCL gained 3.25% to Rs 71.40 after the company said that it has received the purchase orders aggregating to approx. Rs 202.60 crore from Reliance Retail; Reliance Projects & Property Management Services and also from one of the overseas customer.

The telecom company has received a purchase order of Rs 167.60 crore from Reliance Retail and Reliance Projects & Property Management Services for supply of optical fibre cables (OFC). The domestic order has to be executed by March 2023.

It has bagged another purchase order of Rs 35 crore from one of the overseas customer for supply of various types of OFC & its related accessories. The international order has to be executed by March 2023.

HFCL is a technology enterprise engaged in manufacturing of high-end transmission and access equipment, optical fiber, optical fiber cables (OFC). It is specialized in setting up modern communication network for telecom service providers, railways and defense.

The company's consolidated net profit (from continuing operations) tumbled 41.45% to Rs 53.10 crore on 12.9% decline in net sales to Rs 1,051.02 crore in Q1 FY23 over Q1 FY22.

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