Himachal Futuristic plunges 10% post Q4 numbers

Moneycontrol BureauShare prices of Himachal Futuristic Communications (HFCL) plunged 10 percent intraday Wednesday on the back of bad numbers posted by the company in Q4FY16.The company has registered net loss of Rs 135.2 crore, which includes exceptional loss at Rs 148.5 crore against profit of Rs 70.2 crore, Q-o-Q.The company's EBITDA was down 76.7 percent at Rs 20 crore versus Rs 85 crore and EBITDA margin 1170 bps at 2.6 percent versus 14.3 percent.However, its total income gained 28.9 percent at Rs 763.9 crore against Rs 592.7 crore.The company has declared second interim dividend of Rs 3.25 per share on cumulative redeemable preference shares.Also, it has approved the proposal for expansion/modernisation of existing capacities of manufacturing of optical fibre cables.At 09:45 hrs Himachal Futuristic Communication was quoting at Rs 17.40, down Rs 1.20, or 6.45 percent on the BSE.Posted by Rakesh Patil