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HFCL Q2 net profit jumps 49 pc to Rs 65 crore

Domestic telecom gear maker HFCL on Monday reported a 49 per cent jump in consolidated net profit at Rs 65 crore in the second quarter ended September 30, 2019.

The company had recorded a net profit of Rs 43.63 crore attributable to the owners of HFCL in the same period a year ago.

However, HFCL's consolidated revenue from operations dipped by around 19 per cent to Rs 979.52 crore during the reported quarter from Rs 1,213 crore in the corresponding quarter of 2018-19.

The company also announced a plan to acquire 50.1 per cent stake in telecom gear firm DragonWave HFCL India Private Limited from Singapore based DragonWave Pte. Ltd for Rs 2.8 crore to make it a wholly-owned subsidiary of HFCL.