New Delhi: Himachal Futuristic Communications Limited (HFCL), India’s leading integrated telecom solutions providerengaged 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 second quarter of FY16.
Profit After Tax for Q2FY16 is up by 4% to Rs.71.68 crore as compared to Rs.68.94 crore in Q2FY15, while Profit After Tax for H1FY16 including exceptional item stood at Rs.184.07 crore, up by 33% as compared to Rs.138.41 crore in the corresponding first half of previous fiscal. The Company’s earnings before interest, tax, depreciation and amortization (EBIDTA) rose by 3.75% to Rs. 89.37 crore in Q2FY16 as compared to Rs.86.14crore in Q2FY15, while the EBIDTA in H1FY16 increased by 4% to Rs.180.91crore, as compared to Rs.173.91 crore in H1FY15.
The Q2FY16 revenueis down by9.69% to Rs. 587.52 crores as compared to Rs. 650.58 crore inQ2FY15, while H1FY16 revenue of the Company is down by 4.45% to Rs.1212.89 crores as compared to Rs.1,269.40 crore in the corresponding first half of the previous fiscal.
The Company has seen a rise in exports by approximately 78% to Rs.20 crores in Q2FY16 as compared to Rs.9.09 crore inQ2FY15, while the exports rose by 156% to Rs.52 crores in H1FY16 as compared to Rs.20.31 crores in the first half of the previous year. The Company also has a robust order book this year. The total order book as of today stands aroundRs.2700 crores.
Commenting on the Company’s performance during the first half of FY16, Mr. Mahendra Nahata, Managing Director,Himachal Futuristic Communications Ltd., said, “We have seen an increase in profits due to cost control and improved margins. OurOptical Fibre Cables and Turnkey Projects have been the major contributors to our overall growth. In order to increase the capacity for manufacturing of optical fibre cables, the Company is setting-up the manufacturing facility in Chennai, under our subsidiary called HTL Ltd.The commercial production is likely to commence from November 15 onwards. The impact of this expansion will be visible in the next fiscal.Besides this we have seen a huge jump in exports in the first half of the year, and have started exporting to UK, Poland, South Africa, Qatar, Dubai, Malaysia, Iran, Bangladesh, Nepal, and Morocco”.
“The revenue in the second quarter is marginally low due to the rainy season, which impacts the Project implementation. However, the outlook for the second half looks bright,” he added.
He also added,“With the Government’s increased impetus to enhance indigenous procurement for the defense segment, Company has received various Industrial Licenses for the manufacturing of Electronic Warfare systems, Radars, UAVs, Night vision system, Electronic Fuzes and CBRN. Defence will be one of the pillars for HFCL’s growth in future”.
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