Himachal Futuristic Communications Ltd (HFCL) today reported increase of 29% in net profit at Rs 18 crore for first quarter ended on June 30, 2012.
The company had reported net profit of Rs 13.67 crore for the same period last fiscal.
HCFL posted a big jump in income from operations during the quarter at Rs 127.45 crore on account of sale of a venture, from Rs 48.47 in the April-June quarter last fiscal.
"During the reported quarter, the company gained Rs 1,225 lakh on account of sale on investment," HFCL said in filing to BSE. Other details of this sale were not disclosed in the statement.
HFCL margins more than doubled in turnkey contracts and services business at Rs 21.51 crore in the reported quarter from Rs 9.82 crore in corresponding period in FY12.