HFCL posts flat profit in Q4 at Rs 86 crore
New Delhi [India], May 11 (ANI): Telecom equipment major HFCL has posted a net profit of Rs 86.47 crore for the quarter ended March 31, marking an 1.6 per cent over the previous quarter's Rs 85.11 crore.
ANI
May 11, 2021 11:24 IST
New Delhi [India], May 11 (ANI): Telecom equipment major HFCL has posted a net profit of Rs 86.47 crore for the quarter ended March 31, marking an 1.6 per cent over the previous quarter's Rs 85.11 crore.
The company's revenue moved up 8.9 per cent to Rs 1,391 crore in Q4 from Rs 1,277 crore in Q3 FY21. But significantly, its current order book currently stands at Rs 6,875 crore.
Managing Director Mahendra Nahata said the company's emphasis is to design and develop new-generation telecom and defence products by its own R&D having promising opportunities across industries like telecom, railways and defence.
"The company's outlook is very optimistic given the increasing demand for optical fiber cables and telecom equipment, not only in India but also from overseas market as shift to digital economy has accelerated globally," he said.
Besides, HFCL's defence equipment initiative will contribute to the government's emphasis on Make in India initiative.
"With sharp focus on new products, new customers and new geographies, we are excited about the growth trajectory going forward," said Nahata.
"Transformational projects like PM-WANI when viewed in conjunction with BharatNet and added to that the upcoming 5G opportunity will significantly boost the company's prospects."
Nahata said the government's policies production-linked incentive (PLI scheme) for telecom sector will provide strong tailwinds to domestic telecom equipment manufacturing.
"The company sees India as the next innovation and manufacturing hub for telecom products, and HFCL is fully prepared to serve the needs of its customers in India and abroad," he said.
For the entire financial year ended March (FY21), HFCL has reported consolidated profit after tax of Rs 223 crore on a revenue of Rs 4,106 crore.
The board of directors has also recommended a dividend of 15 paise or 15 per cent per equity share with a face value of Re 1 each. (ANI)
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