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Shares of HFCL Ltd has jumped as much as 12 per cent on Tuesday as the company reported a multifold jump in the net profit during the March quarter. The company, with a current order book of Rs 6,875 crore, has firmed up its 5G plans. Domestic telecom gear maker posted a multifold jump in its consolidated net profit to Rs 86.47 crore in the quarter ended March 31, 2021. The company had posted a net profit of Rs 8.7 crore in the corresponding period of the previous year.
Shares of HFCL soared 12 per cent to Rs 38.40 on Tuesday, only to give up some gains marginally to trade at Rs 37.80 at 10.35 am. The scrip was closed at Rs 34.30 on Monday. At the same time, BSE Sensex was trading 401.95 points or 0.81 per cent lower at 49,100.46.
The homegrown optic fiber-to-night-vision devices maker said that its current order book currently stands at Rs 6,875 crore, and the company would continue to focus on the next-generation (5G) portfolio, following which it has firmed up plans to design 5G small and microcells. The Delhi-based company posted a net profit of Rs 85.11 crores in the December quarter. HFCL’s total income stood at Rs 1,391.40 crore in Q4 and in the FY 20-21 over Rs 1,277.40 crore in Q3 FY 2020-21.
Stock Covered in the news
