HFCL Limited on Monday announced that it has received the purchase orders of Rs 82.60 crore for supply of Optical Fiber Cables to one of the domestic Telecom Service Providers of the country. “We are pleased to inform all the stakeholders that the company along with its material subsidiary, HTL Limited, has received the purchase orders aggregating to ~Rs 82.60 crores for supply of Optical Fiber Cables to one of the domestic Telecom Service Providers of the country,” the company said in a regulatory filing.
The order is to be executed by November 2023.
Earlier in July, HFCL had posted a 42 per cent rise in its net profit at Rs 75.56 crore for the April-June quarter of FY2023-24, up from Rs 53 crore in the year-ago period. Its revenue declined 5 per cent to Rs 995 crore from Rs 1,051 crore in the last fiscal around the same period.
Net profit dropped 4 per cent sequentially from Rs 79 crore in the March quarter, while its revenue took a 31 per cent plunge from the previous quarter. The company had recorded Rs 1432 crore in revenue in Q4FY23.
Mahendra Nahata, Managing Director of HFCL, had said, “During Q1FY24, we have significantly increased revenues from international business to Rs 176.23 crores witnessing a growth of 156 pc on a Y-o-Y basis. HFCL’s strategy to focus on increased revenue from products, expand its capacities and tap into new geographies has resulted in an increase in the product revenue share to 67pc in Q1FY24 as compared to 59pc in the same quarter last year.”
“HFCL’s strategy to focus on increased revenue from products, expand its capacities and tap into new geographies has resulted in an increase in the product revenue share to 67pc in Q1FY24 as compared to 59pc in the same quarter last year.” The company has signed a two-year memorandum of understanding (MoU) with Bharat Electronic Limited, he had added.