HFCL posts 12 pc fall in Q4 net; record profit of Rs 232 cr in FY19

Telecom equipment and network development company Himachal Futuristic Communications Ltd (HFCL) Thursday reported a 12 per cent drop in its fourth-quarter net profit even as it ended the fiscal with highest ever order book of about two-and-half-times its current revenues.

Net profit in January-March quarter came at Rs 57.51 crore, down from Rs 58.24 crore net profit in the same period of the previous financial year, the company said in a statement here.

Turnover rose by over 16 per cent to Rs 1,094.68 crore.

For the full 2018-19 fiscal year that ended March 31, 2019, HFCL reported an all-time high net profit of Rs 232 crore, up 35 per cent over the previous financial year.

Revenue jumped by over 46 per cent to Rs 4,785 crore.

The company closed FY19 with highest ever order book of Rs 11,350 crore, which translates into 2.5 times of 2018-19 fiscal revenues, the statement said.

HFCL Managing Director Mahendra Nahata said: "The company has delivered another record performance on the back of growing trust and confidence of its customers, who continue to make increasing investments towards network expansion and upgrades."
"With aggressive 4G and fibre-to-the-home (FTTH) rollout along with 5G on the anvil, networks shall become denser and deeper - thereby creating more demand of the company's products," he said. "Further modernisation of railway communication system, 'Make in India' thrust for defence procurement and continued investment towards smart cities and surveillance shall amplify HFCL's growth prospects."