HFCL fell 1.73% to Rs 17.05 after consolidated net profit fell 31.8% to Rs 46.08 crore on 30.1% decrease in net sales to Rs 853.47 crore in Q3 December 2019 over Q3 December 2018.
Consolidated profit before tax (PBT) fell 27.3% to Rs 69.78 crore in Q3 December 2019 as against Rs 95.97 crore in Q3 December 2018. Tax expense slipped 29% to Rs 11.98 crore in Q3 December 2019 as compared with Rs 16.88 crore in Q3 December 2018. The result was announced after trading hours yesterday, 20 January 2020.
In the past one year, the stock slumped 23.54%. On the technical front, the stock's RSI (relative strength index) stood at 42.541. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
HFCL, formerly Himachal Futuristic Communications, operates as designer, manufacturer, assembler and seller of telecommunication equipment.
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