Himachal Futuristic Communications Limited (HFCL) has announced its financial results for the quarter ended (QE) and half year ended September 30, 2022. The consolidated net profit for the company stood at Rs 843.1 million during the reported period, while the consolidated revenue from operations for the company declined by about 6 per cent to Rs 10.51 billion compared to Rs 11.22 billion in the QE September 2021.

Meanwhile, for the half year ended September 30, 2022, the company reported a consolidated revenue of Rs 22.24 billion. The earnings before interest, tax, depreciation and amortisation (EBITDA) of half year stood at Rs 3.04 billion, while the profit-before-tax (PBT) and profit-after-tax (PAT) for the company were reported to be Rs 1.85 billion and Rs 1.37 billion, respectively.

On standalone basis, the company reported revenues of Rs 11.19 billion, EBIDTA of Rs 1.49 billion, PBT of Rs 1.02 billion and PAT of Rs 760 million for QE September 30, 2022. Moreover, for the half year ended September 30, 2022, the company reported standalone revenue of Rs 20.71 billion, EBIDTA of Rs 2.55 billion, PBT of Rs 1.66 billion and PAT of Rs 1.24 billion.

Commenting on the financial results, Mahendra Nahata, managing director, HFCL, said, “On the backdrop of easing supply chain disruptions and improvement in input costs, we have been able to demonstrate healthy growth in our revenue and margins over last quarter. With the leap in technology, higher backward integration, capacity expansion in optical fibre cable (OFC) business, production of next-gen equipment and expanding global footprints, we are well on our mission to transform as a technology-driven enterprise that innovates and manufactures for both domestic and global markets with an aim to become a product led global player in OFC and telecom equipment and solutions. We have further strengthened our research and development (R&D) initiatives and 5G product portfolio and launched world’s first open standard Wi-Fi 7 Access Points, 8T8R Macro Radio units and 5G Lab-as-a-Service. Backed by our portfolio of indigenous futuristic products and solutions, our share of exports to revenues has improved to 16.38 per cent in Q2 FY23 as compared to 9.08 per cent in Q2 FY22. We continue to see strong response in key global markets like Europe, Africa and Middle East, thereby making us optimistic about doubling our exports to Rs 7.50 billion by end of FY’23. We have also committed an investment of Rs 4.25 billion on R&D and creation of facilities to manufacture telecom equipment under the government’s PLI/DLI scheme.”