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HFCL Q1 PAT slumps 81% to 21 cr

Capital Market 

HFCL reported 80.9% drop in consolidated net profit to Rs 21.09 crore on 47.9% decline in net sales to Rs 699.76 crore in Q1 June 2020 over Q1 June 2019.

Profit before tax in Q1 FY21 stood at Rs 29.17 crore, down by 81.5% from Rs 157.37 crore in Q1 FY20. Current tax expense decreased 78.1% year-on-year (YoY) to Rs 6.87 crore during the quarter.

On the segmental front, telecom products revenue was at Rs 189.34 crore (down 47.7% YoY) while the revenue from turnkey contracts and services was at Rs 510.42 crore (down 48% YoY) in the quarter ended on 30 June 2020.

The scrip shed 0.48% to Rs 16.44 on the BSE. It traded in the range of 16.29 and 16.59 so far during the day.

HFCL is a telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its manufacturing facilities at Solan, Goa and Chennai.

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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, August 18 2020. 09:21 IST