Telecommunication and equipment manufacturing major HFCL addressed 31.8 percent escalation in its consolidated net profit. The company claims that Q2 noticed profit of INR 66 crore.
The total consolidated revenue during July-September Quarter of fiscal year 2019 witnessed 19 percent fall. Over the past years HFCL
(formerly Himachal Futuristic Communication ltd) has delivered innovative, customized and competitive products and latest solutions in the high technology telecommunication infrastructure sector. The company’s activities cover the entire value chain from manufacturing cutting edge telecommunication product to implementation of telecommunication network.
Moreover, the company has cut down expenses to INR 8,415 crore which assisted rise in profit by 24.8 percent with the YOY fall in spending.
Sharing the insights on company’s performance, MD, HFCL, Mahendra Nahata said, “The company has delivered another quarter of increased profit and margin. Our sustained all round efforts towards margin improvement yielded good result.”
It plans to improve the product and EPC by enhancing various operational measures which would indeed improve the efficiency. It is also striving to balance the expenditure and speed up the project execution.