Himachal Futuristic Communications Limited (HFCL) has reported consolidated profit worth Rs 96.8 million during the quarter ended March 2020, recording a decline of 86 per cent year on year (YoY). This fall has been attributed to lower revenue incurred by the company.

The revenue from operations declined from Rs 12.15 billion during QE March 2019 to Rs 6.63 billion during QE March 2020.

Further, the revenue from operations for FY 2019-20 stood at Rs 38.38 billion compared to Rs 47.37 billion during FY 2018-19.

Meanwhile, the company’s total comprehensive income declined from Rs 716.9 million during QE March 2019 to Rs 96.8 million during QE March 2020.

However, HFCL’s total comprehensive income for FY 2019-20 stood at Rs 2.38 billion, recording YoY growth of 0.67 per cent.