You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

HFCL Q2 PAT tumbles 22% YoY

Capital Market 

HFCL reported 21.5% fall in consolidated net profit to Rs 51 crore on a 7.6% rise in net sales to Rs 1054.32 crore in Q2 September 2020 over Q2 September 2019.

On the segmental front, revenue from turnkey contracts and services was at Rs 775.46 crore (down 2.6% YoY) while the revenue from telecom products was at Rs 278.86 crore (up 52.2% YoY).

Total expenditure during the quarter increased by 7.6% year-on-year (YoY) to Rs 923.63 crore. Concurrently, the interest payments during the same period were higher by 43.7% YoY as it came in at Rs 42.83 crore.

Profit before tax in Q2 FY21 stood at Rs 75.49 crore, down by 26.8% from Rs 103.13 crore reported in Q2 FY20. Tax expenses rose 44% YoY to Rs 17.91 crore in the second quarter.

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.

The scrip shed 0.30% to Rs 16.65 on the BSE. It traded in the range of 16.50 and 17 so far during the day.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 12 2020. 09:38 IST