HFCL shares down 3% after posting Q3 results; PAT down 10%; revenue 2%

HFCL shares slipped 3.2 per cent on Tuesday, logging an intraday low at Rs 98.25 per share on BSE. The selling pressure in the stock came after the company posted its Q3 results.

 

Around 12:59 PM, HFCL share price was down 1.51 per cent at Rs 100.01 per share on BSE. In comparison, the BSE Sensex was up 1.17 per cent at 78,091.81. The market capitalisation of the company stood at Rs 14,501.75 crore. The 52-week high of the stock was at Rs 171 per share and the 52-week low was at Rs 81.25 per share. 

 

The company released its Q3 results on Monday after market hours. HFCL reported 10 per cent decline in net profit to Rs 74 crore as compared to Rs 82.24 crore a year ago. The company's revenue for the quarter under review declined 2 per cent at Rs 1,011.95 crore as compared to Rs 1,032.31 crore a year ago.  

 

 

"Despite a dynamic and challenging market environment, HFCL has demonstrated resilience with a stable quarterly performance. Our unwavering commitment to innovation and strategic growth continues to drive us forward. The recent BharatNet order wins are a testament to our expertise in strengthening India’s digital infrastructure, reinforcing our position as a trusted technology partner in the Country’s broadband revolution" said Mahendra Nahata, managing director, HFCL.

 

Nahata added: As we move ahead, HFCL remains focused on expanding its technological capabilities, fostering innovation, and delivering value to our stakeholders. We are confident that our strategic initiatives will create long-term sustainable growth and strengthen our leadership in the industry.

 

HFCL is a technology company specialising in creating digital networks for telcos, enterprises, and governments. Over the years, HFCL has emerged as a trusted partner offering sustainable high tech solutions with a commitment to provide the latest technology products to its customers. The company’s in-house reserach and development (R&D) centers located at Gurgaon, Bengaluru and Hyderabad along with invested R&D houses and other R&D collaborators at different locations in India and abroad, innovate a futuristic range of technology products and solutions. 

 

In the past one year, HFCL shares have gained 3.3 per cent against Sensex's rise of 7.6 per cent.