HFCL Q2 Net up 37 pc at Rs 69 crore

Telecom equipment maker Himachal Futuristic Communications Ltd today reported a 37 per cent rise in net profit at Rs 68.94 crore for the second quarter ended September 30, driven by strong demand in its optical fibre cable business.
The company had reported a net profit of Rs 50.15 crore in the same period a year ago.
"The company posted a healthy growth during the quarter under review as compared to corresponding quarter in the previous year. Key drivers of such strong growth are substantial increase in the demand of OFC and accelerated growth of data networks," HFCL Managing Director Mahendra Nahata said in a statement.

HFCL is also one of the companies shortlisted by state-run BSNL for deploying mobile towers in naxal affected areas.
The telecom product segment of the company saw multi-fold jump in net profit at Rs 17.73 crore in the reported quarter from a mere Rs 70 lakh in corresponding period last fiscal.
The segment inlcudes OFC, wireless repeaters and fibre-to-the-home.
HFCL reported about 29 per cent increase in its Q2 revenue of current fiscal at Rs 650.58 crore from Rs 504.03 crore in the same period a year ago.
Shares of HFCL closed at Rs 19.10, up by 1.33 per cent, at BSE today.