HFCL rallied 7.29% to Rs 66.95 after the company said that it has received the purchase orders aggregating to Rs 59.22 crore from one of the leading private telecom operators of the country.
The purchase orders was issued by a leading telecom operator for their Fiber to the Home (FTTH) Network and Long Distance Fiber Network in various telecom circles. HFCL will provide services for optical fiber cables (OFC) rollout for fiber to the home network and long distance fiber network. The order is to be executed by July 2023.
HFCL is a technology enterprise engaged in manufacturing of high-end transmission and access equipment, optical fiber, optical fiber cables (OFC). It is specialized in setting up modern communication network for telecom service providers, railways and defense.
The company posted 22.9% decrease in consolidated net profit to Rs 65.32 crore for quarter ended March 2022 as against Rs 84.68 crore in quarter ended March 2021. Net sales in the fourth quarter stood at Rs 1,182.98 crore, down 15% from Rs 1,391.40 crore reported in the same period last year.
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