HFCL Q2 FY23 profit after tax down by 2% to Rs 84cr

HFCL Limited has reported a profit after tax (PAT) of INR 84 crores for the quarter ended 30 September 2022 (Q2 FY23), a decrease of 1.9% compared to INR 86 crores in the same quarter of the previous fiscal year.

In the last quarter, that is Q1 FY23, HFCL Limited had a profit after tax of INR 53 crores.

The Indian fiber optic cable manufacturer earned revenue of INR 1,173 crores in the reported quarter, an increase of 4.58% compared to INR 1,122 crores in Q2 FY22.

In Q1 FY23, HFCL Limited reported revenue of INR 1,051 crores.

HFCL Q2 FY23 profit after tax down by 2% to Rs 84cr. Photo courtesy of Nuttyprofessor2016/Wikipedia.org.

Mahendra Nahata — HFCL Managing Director, commenting on HFCL Q2 FY23 results, said: “On the backdrop of easing supply chain disruptions and improvement in input costs, we have been able to demonstrate healthy growth in our revenue and margins over last quarter.

“With the leap in technology, higher backward integration, capacity expansion in OFC business, production of next-gen equipment and expanding global footprints, we are well on our mission to transform as a technology-driven enterprise that innovates and manufactures for both domestic and global markets with an aim to become a Product led global player in Optic Fiber Cables and telecom equipment and solutions”