HFCL Limited Consolidated Revenue Jumped 72.46%

NEW DELHI:
HFCL Limited, India’s leading technology enterprise engaged in the manufacture of high end transmission and access equipment, optical fibre and optical fibre cables and creating communication network for telecom service providers, Railways, Defence and Smart City & Surveillance, announced its unaudited financial results for the first quarter ended June 30, 2021 of FY22.

Commenting on the Company’s performance, Mahendra Nahata, the Managing Director said, “Our sturdy performance of Q1FY22 demonstrates the foundation and efficacy of our strategy towards growth that we have been working upon over the recent years. The fact that we could execute well across manufacturing and supplies, project implementation and capex plans, in spite of the upheaval caused by the second wave of the pandemic, is a testimony of commitment of our people.

Commissioning of a dedicated 5G R&D centre at Bengaluru, on the back of newly constituted 5G business division, launch of another PM WANI model village ‘Baidebettu’ in Karnataka, running of manufacturing capacities at an optimum level of efficiency, fast progress being made on recently announced CAPEX across all manufacturing locations, the healthy enquiry and order inflows from the domestic and international markets both – all these are indicative of a promising path ahead.

Our operating environment continues to brim with possibilities. Expansion of BharatNet, rapidly growing fiber to the home segment, PLI scheme, additional spectrum allocation to the telcos and approval for 5MHz 4G spectrum for Indian Railways will all amplify our opportunity spectrum. We are geared up to leverage these opportunities with our market leading products and solutions which continue to get sharper with an added edges of technological advancements and cost competitive manufacturing.

Our collaborative pursuit of new product development in key 5G segments including 5G Radio Access Network (RAN) and 5G Transport equipment both for the Indian and international markets continues to make rapid progress. We stand well aligned with the India growth story with a sharper focus on technology indigenization and make in India for the world. The transformed HFCL that we have worked passionately and assiduously towards is ready to meet opportunities with preparation.”