HFCL rose 1.60% to Rs 34.85 after the company's consolidated net profit surged to Rs 84.67 crore in Q4 FY21 from Rs 5.78 crore in Q4 FY20.
Net sales during the quarter increased 109.8% to Rs 1391.40 crore from Rs 663.19 crore reported in the same period last year. On the segmental front, revenue from Telecom Products was Rs 387.82 crore (up 114.4% YoY) while that from Turnkey Contracts and Services was Rs 1,003.58 crore (up 108.1% YoY) in the fourth quarter.
Profit before tax in Q4 FY21 stood at Rs 118.24 crore, up 321.2% from Rs 28.07 crore in Q4 FY20.
The company recorded 5.2% rise in consolidated net profit to Rs 239 crore on 15.2% increase in net sales to Rs 4422.96 crore in the year ended 31 March 2021 over the year ended 31 March 2020.
The board has recommended a dividend of Re 0.15 per equity share for the financial year ended 31 March 2021.
Mahendra Nahata, managing director said, "Our R&D efforts for constant innovation, fortitude to pursue growth even amid the challenges of the COVID-19 pandemic and faith of our customers have been core drivers to our success. We have a strong order book of Rs 6,875 crore with an attractive pipeline ahead.
The company's emphasis is to design and develop new generation telecom and defence products by its own R&D, having promising opportunities across industries like telecom, railways and defence.
The company's outlook is very optimistic given the increasing demand for optical fiber cables and Telecom Equipment, not only in India but also from overseas market as shift to digital economy has accelerated globally.
The Government's policies such as PLI for telecom sector and boost to Make in India program will provide strong tailwinds to domestic telecom equipment manufacturing."
HFCL makes optical fiber cables, optical transport, power electronics and broadband equipment for the telecommunication industry.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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