HFCL Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2022. On standalone basis, for the third quarter ended December 31, 2022, the company reported a revenue of Rs 10.02 billion, earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 1.47 billion, profit before tax (PBT) of Rs 1.07 billion and profit after tax (PAT) of Rs 0.8 billion as against revenue of Rs 11.07 billion, EBIDTA of Rs 1.39 billion, PBT of Rs 0.95 billion and PAT of Rs 0.7 billion for third quarter ended December 31, 2021.
For the nine months ended December 31, 2022, the company reported consolidated revenue of Rs 33.1 billion, EBITDA of Rs 4.98 billion, PBT of Rs 3.22 billion and PAT of Rs 2.39 billion as against revenue of Rs 35.44 billion, EBITDA of Rs 5.39 billion, PBT of Rs 3.49 billion and PAT of Rs 2.58 billion for nine months ended December 31, 2021.
For the nine months ended 31st December, 2022, the company reported standalone revenue of Rs 30.73 billion, EBITDA of Rs 4.02 billion , PBT of Rs 2.72 billion and PAT of Rs 2.04 billion as against revenue of Rs 32.20 billion, EBITDA of Rs 4.43 billion , PBT of Rs 2.99 billion and PAT of Rs 2.21 billion for nine months ended December 31, 2021.
Commenting on the results, Mahendra Nahata, managing director, HFCL, said, “Over the last few quarters, despite the supply chain disruptions witnessed across the globe, we have continued to demonstrate strong business performance with our strategy to tap into new geographies, new customers with new products and shift in revenue mix from projects to more of products which has resulted into sustainable revenue and margin expansion. Besides, HFCL’s industry leadership in optical fibre cable space in India, it has further intensified its efforts to strengthen the global footprints leading to significant order wins from Europe. Our nine months FY23 export revenue grew by 127.53 per cent on year-on-year (Y-o-Y) basis and we are optimistic to continue with the same trend in coming quarters by accessing more geographies. Our order book stood more than Rs 70 billion as on December 31, 2022 compared to Rs 52.80 billion in the previous quarter. HFCL has been granted approval to avail incentives up to Rs 6.53 billion from FY 2022-23 to FY 2026-27 as part of government’s production-linked incentive (PLI) scheme, wherein, we committed an investment of Rs 4.25 billion over a period of four years for the development and manufacturing of telecom products including 5G radio equipment, routers, switches, WiFi products and backhaul radios. FY 2024 will see us continue on our strategic transformation to emerge as a high-tech global enterprise and integrated next-gen network solution provider.”
