HFCL Q3 net profit jumps 87% to Rs 85 crore; says business outlook optimistic

HFCL Ltd on Thursday posted nearly 87 percent jump in its consolidated net profit for the December quarter at Rs 85.1 crore and projected an "optimistic" outlook backed by strong demand for optical fibre cables, FTTH as well as momentum in transformational projects, and 5G prospects.

The net profit in the corresponding period previous year stood at Rs 45.58 crore, according to a regulatory filing.

Total income came in at Rs 1,281.45 crore for Q3FY21, up 48.6 percent over the year-ago period. HFCL Managing Director Mahendra Nahata said the company had a robust order book of Rs 7,313 crore with an attractive pipeline ahead and is seeing good opportunities for its indigenously designed and developed products that have application across industries like telecom, railways and defence.

"Our outlook is very optimistic given the demand we are seeing for optical fibre cables and FTTH (fibre-to-the-home) not just in India but also from exports. Transformational projects like PM-WANI when viewed in conjunction with BharatNet, and add to that, the upcoming 5G rollout, all this will significantly boost the company's prospects," Nahata said in a statement.

HFCL Ltd (formerly Himachal Futuristic Communications Ltd) is a technology enterprise engaged in manufacturing of high end transmission and access equipment, optical fibre, optical fibre cables (OFC), with focus on setting up modern communication network for telecom service providers, railways, defence, smart city and surveillance projects.