HFCL Q3 profit down 5% to Rs 81 crore
Revenue declined 4.86 per cent during the quarter to Rs 1,215.21 crore compared to Rs 1,277.48 crore it posted in the same quarter of 2020-21.
HFCL during the quarter raised Rs 600 crore through qualified institutional placement to expand capacities and build network solution capabilities to tap the upcoming opportunities in the telecom and defence sectors. (Image source: HFCL's website) Domestic telecom gear maker HFCL on Monday posted 4.7 per cent decline in consolidated profit to Rs 81.1 crore for the third quarter ended December 31, 2021 mainly on account of hike in component prices, specially semiconductors.
The company had posted a profit after tax of Rs 85.11 crore in the same period a year ago.
Revenue declined 4.86 per cent during the quarter to Rs 1,215.21 crore compared to Rs 1,277.48 crore it posted in the same quarter of 2020-21.
“Although the demand in the economy is coming back gradually, we had a strong quarter with growth in revenues. The margins during the quarter got slightly impacted followed by increased logistic costs and increase in fiber and semiconductor prices,” HFCL Managing Director Mahendra Nahata said in a statement.
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