 "Himachal Futuristic net up 67% to Rs 70 crore")
Himachal Futuristic Communications Limited (HFCL), which makes telecom equipment and optical fibre cables, posted a net profit of Rs 70.16 crore for October-December quarter, up 67 per cent over the corresponding period the previous year. However, it declined sequentially from Rs 71.68 crore in September quarter.
The company's revenue for the quarter was Rs 592.74 crore, on robust orders from telecom firms and higher exports.
"Many of our orders though executed are still in the billing stage and have spilled over to the next quarterm causing marginally low revenues for this quarter. However, overall performance has been very satisfactory," said Mahendra Nahata, managing director of HFCL. He added that optical fibre cables and turnkey projects have been the major contributors to the company's overall growth.
During the quarter, the company witnessed a major hike in export orders. Exports were up 71 per cent year-on-year to Rs 11.8 crore, compared with Rs 6.89 crore in the year-ago period.
Better exports and work orders reflected in the operating profit of the company as well. Its earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 39 per cent to Rs 87.68 crore in the last quarter compared with Rs 62.80 crores in same period last year.
