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HFCL bags order worth Rs 288 crore from RailTel Corp

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HFCL said that it has bagged an order amounting to approximately Rs 287.96 crore from RailTel Corporation of India, a Mini Ratna (category-I) central public sector undertaking (CPSU) of the Ministry of Railways.

The order is for setting up of secured optical packet switched network for the defence forces. The secured optical network shall enhance the security of applications and provide latest state of the art technology, which will drive the security requirement of the defence forces.

The project has to completed within a period of 12 months.

HFCL makes optical fiber cables, optical transport, power electronics and broadband equipment for the telecommunication industry.

The company's consolidated net profit surged to Rs 87.82 crore in Q1 FY22 from Rs 21.09 crore in Q1 FY21. Net sales during the quarter rose 72.47% YoY to Rs 1206.87 crore.

The scrip hit an upper circuit of 5% at Rs 75.25 on the BSE on Monday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 05 2021. 08:42 IST