HFCL Limited (‘HFCL’), a leading technology enterprise with operations in manufacturing of high-end telecom equipment, optical fiber and optical fiber cables and offering communication network solutions for telcos, defence and railway sector announced its Un-audited financial results for the second quarter and half year ended 30th September, 2023, the company announced through an exchange filing.
Consolidated Financial Highlights – Q2FY24
In the second quarter of the fiscal year 2024 (Q2FY24), the company reported total revenue of ₹1,111.49 crores, representing an 11.69 percent increase compared to the previous quarter, which stood at ₹995.19 crores. However, there was a 5.28 percent decrease in revenue compared to the same quarter of the previous year when it was ₹1,173.47 crores.
The Earnings Before Interest, Depreciation, Taxes, and Amortization (EBIDTA) for Q2FY24 was ₹149.77 crores, showing a 6.17 percent decrease from the preceding quarter, where it was ₹159.62 crores. Additionally, there was a more substantial 14.22 percent decrease when compared to the EBIDTA of ₹174.60 crores in the same quarter of the previous year.
The EBIDTA margin for Q2FY24 was 13.47 percent, which represented a 257 basis point (Bps) reduction compared to the previous quarter's margin of 16.04 percent. There was also a 141 Bps decrease when compared to the same quarter of the previous year, when the EBIDTA margin was 14.88 percent.
In terms of Profit After Tax (PAT), the company recorded ₹70.17 crores in Q2FY24, reflecting a 7.13 percent decrease from the preceding quarter when PAT was ₹75.56 crores. Moreover, there was a more significant 16.77 percent decrease compared to the PAT of ₹84.31 crores in the same quarter of the previous year.
The PAT margin for Q2FY24 stood at 6.31 percent, indicating a 128 Bps reduction from the previous quarter's margin of 7.59 percent. Additionally, there was an 87 Bps decrease when compared to the same quarter of the previous year, when the PAT margin was 7.18 percent.
Standalone basis
On a standalone basis, the Company reported quarterly revenue of INR 1001.76 Crores, EBIDTA of INR 131.85 crores, PBT of INR 90.25 crores and PAT of INR 67.55 crores.
