Moneycontrol
Last Updated : May 04, 2018 09:50 AM IST | Source: Moneycontrol.com

HFCL rises 3% on order win from BSNL; Q4 PAT jumps 86%

The company has posted 86 percent jump in its Q4 net profit at Rs 58.75 crore against Rs 31.61 crore in a year ago period.

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Share price of Himachal Futuristic Communication (HFCL) rose 3 percent in the early trade on Friday on the back of order win from BSNL and strong fourth quarter numbers.

Vanu India has teamed with Himachal Futuristic Communications (HFCL) to win a contract awarded by Bharat Sanchar Nigam (BSNL) under BSNL's tender for provision of rural telecommunications services in the Northeast area of India, as per HFCL release.

The contract to HFCL covers products and services worth Rs 579 crore. The scope of the project includes surveying, planning, supply, installation, testing, commissioning, and maintenance for five years of radio access network.

The network deployment will include installation of 924 solar powered base transceiver station (BTS) sites manufactured by HFCL using Vanu India technology.

“Vanu’s vision of using technology and business model innovations to connect the unconnected fits perfectly with HFCL’s strategy to deliver the most competitive and innovative products and technology solutions to our customers," said Mahendra Nahata, Managing Director, HFCL.

The company has posted 86 percent jump in its Q4 net profit at Rs 58.75 crore against Rs 31.61 crore in a year ago period.

The board has recommended 6 percent dividend per equity share for the financial year ended March 31, 2018.

graph_HFCL

At 09:30 hrs Himachal Futuristic Communication was quoting at Rs 28.35, up Rs 0.50, or 1.80 percent on the BSE.

Posted by Rakesh Patil
First Published on May 4, 2018 09:49 am
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