Himachal Futuristic Communications Limited (HFCL) has posted a consolidated profit to Rs 531 million in the first quarter (Q1) ended June 30, 2022. The consolidated revenue for the company stood at Rs 10.51 billion during the reported quarter.
The earning before interest, tax, depreciation and amortisation (EBITDA) for HFCL was reported to be Rs 1.3 billion during Q1 FY’2022-23. During the quarter, the company witnessed a strong order book valuing over Rs 53 billion. Meanwhile, the exports for the company increased by 167 per cent in Q1 FY’2022-23 as compared to Q1 FY’2021-22.
Commenting on the result, MahendraNahata, managing director, HFCL, said, “Despite macro-economic challenges and supply chain disruptions during last six months, HFCL is able to deliver steady financial performance with significant jump in export revenue by 167 per cent compared to corresponding quarter of previous financial year. Share of revenue from products continue to rise and stands at 59 per cent in Q1 FY’2022-23 as compared to 49 per cent in Q4 FY’2021-22. Our order book stands at more than Rs 53billion. Gross Margin has slightly improved as compared to last quarter due to easing input cost pressure and pass through to the customers. However, revenue and consequently profitability during the quarter got impacted due to spill over of service billing followed by non-availability of required infrastructure from the customer end and also continued shortage of semiconductors.As we move forward, we are entering into a multi-year upcycle for Telecom and network implementation and we see huge opportunity in markets like India, Europe and US. FY’23 is a year of transformation for HFCL as we will focus on creating capabilities and expanding capacities for sustainable profitable growth and leverage on the upcoming opportunities in telecom, 5G network implementation, defence and railways. Our mission is to transform as a technology driven enterprise that innovates and manufactures for both domestic and global markets with an aim to become a multinational player in optic fibre cables (OFC) and telecom and networking products.”
