Himachal Futuristic Communications Ltd (HFCL) had posted net profit of Rs 69.47 crore in the same period a year ago.

“Homegrown telecom equipment maker HFCL on Monday reported a 61.78 percent jump in net profit to Rs 112.39 crore during the first quarter ended June 30.

Himachal Futuristic Communications Ltd (HFCL) had posted net profit of Rs 69.47 crore in the same period a year ago.

The net sales of the company remained largely flat at Rs 625.37 crore compared with Rs 618.82 crore year ago.

“Around four years back our full revenue was about Rs 267 crore. Now we have posted sales of Rs 625 crore in a single quarter. Due to cost control and efficient raw material purchase, we have seen improvement in margins. Our profit has gone up significantly to Rs 112 crore,” HFCL’s Managing Director Mahendra Nahata told PTI.

He said that company now has order book of about Rs 3,200 crore which includes order from Indian telecom operators, Railways and Network for Spectrum project among others.

The company has telecom equipment manufacturing facilities at Solan in Himachal Pradesh and optical fibre cable (OFC) manufacturing facilities in Goa.

Besides domestic supplies, HFCL exported telecom gears worth Rs 32 crore to Europe and Middle East countries. “”We hope to export products , mainly OFC, worth Rs 100 crore this year. Last year we expanded our OFC facility and now it is time to reap returns. We are confident of growth from government’s ‘Make In India’ vision, specially in Defence segment,”” Nahata said.

The company is also diversifying business to cater railways and defence projects. “”We have now put in place dedicated team for Railway and Defence. We don’t expect profit from these segments in this year and we should be able to make good business from next year onward,”” Nahata said. HFCL shares closed at Rs 15.03 apiece up 13.61 percent on BSE.”