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HFCL Q2 PAT tumbles 22% YoY

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.

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