Shares of HFCL hit a 52-week high of Rs 88.70 on 1 January after the company announced securing an order from BSNL worth Rs 1,127 crore.

In its regulatory filing, the company said that it had received an APO (advance purchase order) from Bharat Sanchar Nigam Limited (BSNL) worth Rs 1,127.27 crore to transform the OTN (Optical Transport Network) infrastructure across BSNL’s Pan India network.

The scope of the order involved the design, planning of architecture, supply, engineering, installation and commissioning, and system integration of OTN equipment across India in BSNL.

The company’s transformative initiative extends to the enhancement of BSNL’s network with the help of OTN upgrades at over 300 larger network nodes and 2000 amplifier sites.

The entire project, including installation, has to be completed within 18 months.

Post the commissioning of the OTN Project, a one-year warranty will commence, after which the company will provide operation and maintenance services for three years along with a comprehensive AMC of eight years that will run concurrently.

In its quarterly report for July-September, the company reported a 15.2% year-on-year decline in its net profit to Rs 69 crore for the quarter from Rs 82 crore reported in the same quarter last year.

The revenue of the company during the quarter saw a 5.3% YoY decline to Rs 1,111.50 crore.

At 1:08 pm, the shares of HFCL were trading 2.97% higher at Rs 86.65 on NSE.