HFCL logs 62% rise in Q1 PAT

NEW DELHIL Telecom solutions provider Himachal Futuristic Communications (HFCL) has recorded a 62% rise in its profit after tax in Q1 FY16 at Rs 112.39 crore over the same period last year.

The net sales stood at Rs 625.37crore in Q1FY16 as compared to Rs 618.82 crore in Q1FY15. EBIDTA (earnings before interest, tax, depreciation and amortization) also increased by 4.30% to Rs 91.54 crore in Q1FY16 from Rs 87.77 crore in Q1FY15.

Q1FY16 EPS (earning per share) stood at Rs 0.90 as compared to Rs 0.55 in Q1FY15 Profit After Tax for Q1FY16 stood at Rs.112.39 crore, up by 62% as compared to Rs. 69.47 crore in the corresponding quarter of previous fiscal. Net Sales for the quarter ended June 30 2015, stood at Rs.625.37 crore, as compared to Rs. 618.82 crore in the corresponding quarter of previous fiscal.

It has seen a rise in exports by 255% to Rs 32 crore as compared to the first quarter of the previous year. The expected turnover from exports in FY16 stood at Rs 100 crore. The total order book of the company today stands around Rs 3,000 crores.

Mahendra Nahata, Managing Director, Himachal Futuristic Communications, said, “In the last four years, HFCL has grown almost 10 times in revenue, 17 times in profit, and we are confident of a significant growth in the current financial year. The positive movements in the current order book, combined together with the upcoming opportunities is indicative of the same.”

“Such strong growth has been possible due to high demand of Optical Fibre Cables and Turnkey Projects. A growth of 255 percent in exports added to our positive outlook of further growth in exports which is going to be key thrust area going forward. Due to cost control and efficient raw material purchase, we have seen improvement in margins,” he added.