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New order win boosts HFCL

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Himachal Futuristic Communications was up 1.40% to Rs 21.75 at 09:23 IST on the BSE after the company announced that its subsidiary has received a purchase order from Bharat Electronics.

The announcement was made after market hours yesterday, 11 July 2019.

Meanwhile, the S&P BSE Sensex was up by 38.28 points, or 0.10% to 38,861.39.

On the BSE, 1.31 lakh shares were traded in the counter so far compared with average daily volumes of 3.54 lakh shares in the past two weeks. The stock had hit a high of Rs 21.90 and a low of Rs 21.45 so far during the day. It hit a 52-week high of Rs 30.65 on 12 July 2018 and a 52-week low of Rs 17.20 on 10 December 2018.

Himachal Futuristic Communications (HFCL) said that HTL, a subsidiary of the company has received a purchase order worth Rs 198.82 crore approx., from Bharat Electronics for supply of various types of optical fibre cables. The company said that the order is to be executed by July 2020.

On a consolidated basis, HFCL's net profit rose 139.8% to Rs 110.39 crore on a 23.38% rise in the net sales to Rs 1342.73 crore in Q1 June 2019 over Q1 June 2018.

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.)

First Published: Fri, July 12 2019. 09:24 IST