Domestic telecom gear maker HFCL on Friday posted a 41.76 per cent decline in consolidated profit to Rs 53.1 crore in the first quarter ended June 30.
HFCL had posted a net profit of Rs 91 crore a year ago, the company said in a statement.
The consolidated revenue declined 12.92 per cent to Rs 1,051 crore during the reported quarter from Rs 1,207 crore the year-ago quarter.
"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,” HFCL managing director Mahendra Nahata said in the statement.
He said that despite macro-economic challenges and supply chain disruptions during the last six months, HFCL was able to deliver steady financial performance with a significant jump in export revenue by 167 per cent compared to the corresponding quarter of the previous financial year.