Pune: Himachal Futuristic Communications Limited (HFCL), India’s leading integrated telecom solutions provider engaged in manufacturing of telecom equipments & optical fibre cables, executing telecom turnkey contracts and providing services relating thereto, today announced its unaudited financial results for the first quarter of FY16.
Profit After Tax for Q1FY16 stood at Rs.112.39 crore, up by 62% as compared to Rs.69.47 crore in the corresponding quarter of previous fiscal.Net Sales for the quarter ended June 30 2015, stood at Rs.625.37 crore, as compared to Rs.618.82 crore in the corresponding quarter of previous fiscal.
The Company’s earnings before interest, tax, depreciation and amortization (EBIDTA) rose by 4.30% to Rs.91.54 crore in Q1FY16, as compared to Rs.87.77crore in the corresponding quarter of the previous fiscal. Return to shareholders has further strengthened with Earnings per share (EPS) for the first quarter of FY16 increasing to Rs.0.90from Rs. 0.55in the corresponding quarter of previous fiscal.
The Company has seen a rise in exports by 255% to Rs. 32 crores as compared to the first quarter of the previous year. The expected turnover from exports in FY16 is Rs.100 crores. The Company also has a robust order book this year. The total order book as of today stands around Rs.3000crores.
Commenting on the Company’s performance during the first quarter of FY16, Mr. Mahendra Nahata, Managing Director, Himachal Futuristic Communications Ltd., said, “In the last four years HFCL has grown almost 10 times in revenue, 17 times in profit, and we are confident of a significant growth in the current financial year. The positive movements in the current order book, combined together with the upcoming opportunities are indicative of the same.”
“Such strong growth has been possible due to high demand of Optical Fibre Cables and Turnkey Projects. A growth of 255 percent in exports added to our positive outlook of further growth in exports which is going to be key thrust area going forward. Due to cost control and efficient raw material purchase, we have seen improvement in margins, “he added.
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