HFCL Q1 FY23 profit after tax drops 42% to Rs 53cr

HFCL Limited has reported a profit after tax (PAT) of INR 53 crores for the quarter ended 30 June 2022 (Q1 FY23), a 41.76% decrease compared to INR 91 crores in the same quarter of the previous fiscal year.

In the last quarter, that is Q4 FY22, HFCL Limited had a profit after tax of INR 68 crores.

The Indian fiber optic cable manufacturer earned revenue of INR 1,051 crores in the reported quarter, a decrease of 12.9% compared to INR 1,207 crores in Q1 FY22.

In Q4 FY22, HFCL Limited reported revenue of INR 1,183 crores.

HFCL Q1 FY23 profit after tax drops 42% to Rs 53cr. Photo courtesy of Nuttyprofessor2016/Wikipedia.org.

Mahendra Nahata — HFCL Limited Managing Director said: “Despite macro-economic challenges and supply chain disruptions during last six months, HFCL is able to deliver steady financial performance with significant jump in export revenue by 167% compared to corresponding quarter of previous financial year. Share of revenue from products continue to rise and stands at 59% in Q1 FY23 as compared to 49% in Q4 FY22.

“Our order book stands at more than Rs.5,300 crores. Gross Margin has slightly improved as compared to last quarter due to easing input cost pressure and pass through to the customers. However, revenue and consequently profitability during the quarter got impacted due to spill over of service billing followed by non-availability of required infrastructure from the customer end and also continued shortage of semiconductors.”

Earlier this month, HFCL Limited bagged purchase orders worth INR 59.22 crores to deliver services to launch fibre to the home (FTTH) network and long distance fiber network.