Domestic telecom equipment and optical fibre maker HFCL Limited reported 4.50 percent increase in net profit to Rs 73 crore in the second quarter ended September 30.
The company's consolidated revenue declined 1.61 percent year-on-year to Rs 1,094 crore in the quarter. Revenue declined 5.58 percent sequentially from Rs 1,158 crore.
EBIDTA stood at Rs 172 crore, up 14.72 percent.
On a standalone basis, HFCL reported quarterly revenue of Rs 1,012 crore, EBIDTA of Rs 161 crore, PBT of Rs 104 crore, and PAT of Rs 75 crore.
Mahendra Nahata, Managing Director, HFCL said that during the quarter, the company delivered steady performance despite the ongoing softness in demand for Optic Fiber Cables worldwide.
"Further, monsoon season in several parts of the country impacted execution of work, causing some revenue to spill over into the next quarter.”
Nahata further mentioned that the company has started receiving global enquiries for optic fiber cables, indicating early signs of recovery in the coming quarters.
"Going ahead, our focus on launching new products, conscious shift towards margin-accretive products, increasing our share of private customers and expanding our international business will definitely result in improved revenue and profitability”.
The company said it was in advanced stage of discussions for export of its indigenously designed and developed Electronics Fuzes in the global market.
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