Himachal Futuristic Communications Limited (HFCL) greenfield optical fiber (OF) manufacturing plant at Hyderabad will be ready by November 2019.
The company is also adding capacity in optical fiber cable manufacturing subsidiary, HTL which is planned to be completed by the end of July, 2019. The company is also developing new range of WiFi products which is progressing well. HFCL has also increased its R&D and focus is on design and development of new range of telecom products.
In Q1 FY20, HFCL has done remarkably well with consolidated revenues of Rs. 1,343 crore (+23%), EBIDTA of Rs. 194 crore (+104%), PBT of Rs. 157 crore (+116%) and PAT of Rs. 117 crore (+148%). The all-round performance was powered by change in revenue mix, accelerated project execution and efficiency improvement.
On standalone basis, the company has achieved revenues of Rs. 1,201 crore (+16%), EBIDTA of Rs. 164 crore (+84%), PBT of Rs. 136 crore (+94%) and PAT of Rs. 89 crore (+102%).
Commenting on the performance, Mahendra Nahata, Managing Director, HFCL said, “Q1FY20 can be termed as an excellent quarter for HFCL, what is more remarkable is the consistency at which the company is able to deliver stellar performance.”
Reflecting on the road ahead, Nahata said, “We are focused on new products and technologies which shall open additional growth avenues and ensure sustainability. We also continue to leverage our core strength of design, development and management of communication networks in newer application domains such as railways, defence and safe & smart cities. In addition to export of optical fiber cables, we are also expanding our business geographies in new domains.”