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HFCL Q2 FY24 Financials: Revenue Shrinks 5.28%, PAT Down 16.77% YoY

Himachal Futuristic Communication HFCL logo

Himachal Futuristic Communications Ltd. (HFCL) [NSE: HFCL, BOM: 500183], an Indian manufacturing company of Optical Fibre Cables (OFCs) has announced its financial results for Q2 of FY-24.

HFCL’s Standalone Financial Figures for Q2 FY-24

On a standalone basis, HFCL reported Rs. 1,001.76 crore as revenue from operations for the quarter ended 30th September 2023. The corresponding Profit after Tax (PAT) for the period stood at Rs. 67.55 crore.

Subsequently, the company logged Rs. 0.49 as its Earnings Per Share (EPS) in second quarter of 2023-24 financial year.

Consolidated Financial Numbers of HFCL for Q2 FY-24

YoY Comparison of HFCL’s Financial Figures: Q2 FY-24 vs. Q2 FY-23

Comparison of HFCL’s Financials: Q2 FY23 vs Q2 FY24 vs Q1 FY23

HFCL’s revenue from operations fell by 5.28% YoY to Rs. 1,111.49 crore in Q2 of FY-24 from Rs. 1,173.47 crore clocked during Q2 of FY-23.

Following suit, the company’s PAT slumped by 16.77% YoY to Rs.70.17 crore during Q2 of FY-24 from Rs. 84.31 crore in Q2 of FY-23.

EPS of the company was Rs. 0.50 on a consolidated basis for Q2 of FY-24 against Rs. 0.60 in Q2 of FY-23.

QoQ Comparison of HFCL’s Financials: Q2 FY-24 vs. Q1 FY-24

HFCL’s revenue from operations jumped by 11.69% from Rs. 995.19 crore, which was logged during Q1 of FY-24. Further, PAT of the company slid by 7.13% from Rs. 75.56 crore clocked in first quarter of FY-24.

“We are Expecting Strong Demand in Near Future” – HFCL MD

During the company’s earnings call for Q1 of FY-24, Mr. Mahendra Nahata, Promoter and Managing Director of HFCL Limited, said, “Against the backdrop of digital transformation and building of a robust 5G network infrastructure, we are expecting strong demand in near future for fiberisation both in India and globally. This expected strong demand is fuelled by increased government thrust on fiberisation, FTTH, rise in data centres, adoption of cloud computing, IoT, investing in 5G capex and telecom infrastructure across key global markets including India, US, UK, France, Germany, Middle East and other countries”.

About HFCL Limited: HFCL was founded in 1987 and has its headquarters in Delhi. It caters primarily to the communication sector through optical fibre cables and transmission & access equipment manufacturing. HFCL has optical fibre cable manufacturing facilities in Goa and Hyderabad. HTL Limited, the company’s subsidiary, also has an optical fibre cables manufacturing plant in Chennai. The company has a Cable Reinforcement Solutions Plant in Hosur, Tamil Nadu.