New Delhi: Himachal Futuristic Communications Limited (HFCL), India’s leading integrated telecom solutions provider engaged in manufacturing of telecom equipment & optical fibre cables, executing telecom turnkey contracts and providing services relating thereto, today announced its unaudited financial results for the Third quarter and Nine months of FY16.
Profit After Tax for Q3FY16 is up by 67% to Rs.70.16 crores as compared to Rs.42.07 crores in Q3FY15, while Profit After Tax for Nine months for FY16 stood at Rs.254.23 crores, up by 41% as compared to Rs.180.48 crores in the corresponding Nine months of previous fiscal. The Company’s earnings before interest, tax, depreciation and amortization (EBIDTA) rose by 39% to Rs. 87.68 crores in Q3FY16 as compared to Rs.62.80 crores in Q3FY15, while the EBIDTA for FY16 Nine months increased by 30% to Rs.307.11 crores as compared to Rs.236.71 crores in the corresponding Nine months of previous fiscal.
The Q3FY16 revenue is marginally down by 1% to Rs. 592.74 crores as compared to Rs.600.50 crores in Q3FY15, while FY16 nine months revenue of the Company is down by 3% to Rs.1805.63 crores as compared to Rs.1869.90 crores in the corresponding nine months of the previous fiscal. The Company also has a robust order book this year. The total order book as of today stands around Rs.2800 crores.
The Company has seen a rise in exports by 71% to Rs.11.8 crores in Q3FY16 as compared to Rs 6.89 crores in Q3FY15, while the exports rose by 137% to Rs.63.18 crores in nine months of FY16 as compared to Rs. 26.64 crores in the previous fiscal.
Commenting on the Company’s performance during the nine months of FY16, Mr. Mahendra Nahata, Managing Director, Himachal Futuristic Communications Ltd., said, “We have been consistently maintaining revenue and profits in the current fiscal . Optical Fibre Cables and Turnkey Projects have been the major contributors to our overall growth. The newly launched manufacturing facility of our subsidiary company, i.e., HTL Ltd in Chennai has started trial production. Our exports percentage has also seen an increase and going forward we are aiming to push our exports business significantly.”
“Many of our orders though executed are still in the billing stage and have spilled over to the next quarter causing marginally low revenues for this quarter. However, overall performance has been very satisfactory” he added.
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