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HFCL’s Momentum of Healthy Performances Continues

In Business
January 19, 2022

NEW DELHI:
HFCL Limited, India’s leading telecom equipment manufacturer and technology provider announced its unaudited financial results for the third quarter and nine months ended December 31, 2021.

On standalone basis, for the third quarter ended 31st December, 2021, the Company reported a revenue of ₹ 1107.36 crs, EBIDTA of ₹ 139.34 crs, PBT of ₹ 94.79 crs and PAT of ₹70.12 crs as against revenue of ₹ 1188.89 crs, EBIDTA of ₹ 149.28 crs, PBT of ₹ 97.29 crs and PAT of ₹ 75.04 crs for third quarter ended 31st December, 2020.

For the nine months ended 31st December, 2021, the Company reported consolidated revenue of ₹3544.13 crs, EBIDTA of ₹539.30 crs, PBT of ₹ 348.76 crs and PAT of ₹ 257.73 crs as against revenue of ₹ 3031.56 crs, EBIDTA of ₹ 396.92 crs, PBT of ₹ 218.62 crs and PAT of ₹ 159.77 crs for nine months ended 31st December, 2020.

For the nine months ended 31st December, 2021, the Company reported standalone revenue of ₹3220.48 crs, EBIDTA of ₹ 443.36 crs , PBT of ₹ 298.67 crs and PAT of ₹ 220.84 crs as against revenue of ₹ 2828.93 crs, EBIDTA of ₹ 336.68 crs , PBT of ₹ 186.62 crs and PAT of ₹ 140.36 crs for nine months ended 31st December, 2020.

Commenting on the Company’s performance, Mahendra Nahata, Managing Director, HFCL said, “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 semi-conductor prices. In order to expand capacities and build network solution capabilities to tap the upcoming opportunities in Telecom and Defence sectors, the Company has raised ₹600 crores via QIP and I am thankful to all the investors for their overwhelming support and faith posed in HFCL’s long term growth strategy. We are also well on track to shift our revenue mix from more of EPC to more of products and looking for significant growth in coming years. The Company is also constantly working on expanding its global market access and appointed global leaders in US and Europe to boost its OFC and Telecommunication product sales.”

He further added that “The Board has considered and approved the Company’s plan for expansion of Fiber manufacturing capacities from 10mn fkm p.a. to 22 mn fkm p.a. and consolidated OFC manufacturing capacities from 24.75 mn fkm p.a. to 34.75 mn fkm p.a. with an overall capital outlay of ~Rs.425 crores. We remain optimistic about the outlook of the sector. The Government’s approval for our PLI scheme candidature will help us in improving our competitiveness, collaborate with new players and venture into new geographies.”

Nahata further added that,“HFCL has secured approval from NSCS as a ‘Trusted Source’ and we are fully committed to continue serving our TSP partners. The development will lead to cement HFCL’s position further in the Telecom sector thereby amplifying the growth opportunities for HFCL. Our inclusion in the select list as one of the trusted sources, is a distinguished achievement and reinforces our commitment to delivering Make in India world-class products/solutions and contribute to our Hon’ble PM’s vision of an Atmanirbhar Bharat.”