Himachal Futuristic Communications Limited makes provisions of Rs 9.52 billion due to a decrease in the value of investments and doubtful assets

Telecommunication equipment maker Himachal Futuristic Communications Limited (HFCL) has reportedly made provisions of Rs 9.52 billion due to a decrease in the value of investments and doubtful assets. The company’s net loss after one-time charges stands at Rs 938.5 million in the three months ended March 31, 2006 as compared to Rs 135.1 million in the corresponding period in 2005. The turnover, however, rose from Rs 64.8 million during the same period in 2004-05 to Rs 256.5 million in 2005-06.