HFCL posts 75 per cent profit

New Delhi, Nov 2: Domestic telecom equipment maker, Himachal Futuristic Communications Ltd (HFCL) today said its net profit for the second quarter this year was up by 75 per cent to Rs 30.24 crore from Rs 17.33 crore in the same period last year.

The company's sales turnover rose by 21.63 per cent (Y0Y), registering a strong sequential growth.

For the telecom equipment industry (in which the company operates), the second half of the Financial Year typically accounts for 70 per cent of the annual business.

There was an order book of over Rs 620 crore.

Turnkey Network Implementation business division showed a strong growth and this division is expected to be a significant driver of HFCL's growth and margins in this year, and next year as well, as a result of the steep pace of Network rollouts by cellular operators.

The Company's FII Holding continues to be around 34 per cent (excluding FCCBs outstanding), with shareholding by major Global Institutional Investors, indicating renewed confidence in HFCL's management and business outlook.

UNI