HFCL rose 1.35% to Rs 33.70 after consolidated net profit jumped 86.7% to Rs 85.11 crore on 49.7% increase in net sales to Rs 1,277.48 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) soared 63.3% to Rs 113.96 crore in Q3 December 2020 as against Rs 69.78 crore in Q3 December 2019. Current tax expense for the quarter surged 141.6% to Rs 28.94 crore as against Rs 11.98 crore in Q3 December 2019. The Q3 result was declared after trading hours yesterday, 14 January 2021.
Sequentially, the consolidated net profit jumped 59.62% and net sales increased 21.16% in Q3 December 2020 over Q2 September 2021. EBITDA galloped 28.4% to Rs 176.87 crore in Q3 FY21 as against Rs 137.81 crore in Q2 FY21. EBITDA margin improved to 13.80% in Q3 FY21 from 13.02% in Q2 FY21. Profit margin improved to 6.64% in Q3 FY21 from 5.04% in Q2 FY21.
Commenting on the Q3 performance, Mahendra Nahata, managing director, said, "We are pleased to share continued progress on our efforts, as reflected in the accelerating topline growth and consistently improving margins & profitability. Our team's R&D efforts on constant innovation, fortitude to pursue growth even amid the challenges of the pandemic, and solid trust of our customers have been core drivers of our success. We have a robust order book of Rs 7,313 crore with an attractive pipeline ahead, and we are seeing good opportunities for our 100% indigenously designed & developed products that has application across industries like telecom, railways and defence."
"Our outlook is very optimistic given the demand we are seeing for optical fiber cables and FTTH, not just in India but also from exports. Transformational projects like PM-WAN/ when viewed in conjunction with BharatNet, and add to that, the upcoming SG rollout, all this will significantly boost the Company's prospects. With the commencement of our latest FTTH facility in Hyderabad in Q3 FY21, we have become the largest FTTH Cable Manufacturer in the Country and currently, we are expanding this capacity further in nextfew quarters. With the focus on expanding our product portfolio and increasing exports of our "Made in India" offerings, we are excited about the growth trajectory going forward," he added.
HFCL is a telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its manufacturing facilities at Solan, Goa and Chennai.
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