HFCL sees strong demand environment with jump in export revenue by 167% in Q1 FY23

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HFCL sees strong demand environment with jump in export revenue by 167% in Q1 FY23. HFCL Limited (“HFCL”), India’s leading technology enterprise with operations across manufacture of high-end telecom equipment, optical fiber and optical fiber cables and communication network solutions for Telcos, Railways and Defence sectors announced its un-audited financial results for the first quarter ended 30th June, 2022.

For the first quarter ended 30th June, 2022, the Company reported on standalone basis, Revenue of ₹951 crores, EBIDTA of ₹106 crores, PBT of ₹ 63crores and PAT of ₹48 crores.

Commenting on the Company’s performance, Mr. Mahendra Nahata, Managing Director, HFCL said, “Despite macro-economic challenges and supply chain disruptions during last six months, HFCL is able to deliver steady financial performance with significant jump in export revenue by 167% compared to corresponding quarter of previous financial year. Share of revenue from products continue to rise and stands at 59% in Q1 FY23 as compared to 49% in Q4 FY22. Our order book stands at more than Rs.5,300 crores. Gross Margin has slightly improved as compared to last quarter due to easing input cost pressure and pass through to the customers. However, revenue and consequently profitability during the quarter got impacted due to spill over of service billing followed by non-availability of required infrastructure from the customer end and also continued shortage of semiconductors. 

As we move forward, we are entering into a multi-year upcycle for Telecom and network implementation and we see huge opportunity in markets like India, Europe and US. FY23 is a year of transformation for HFCL as we will focus on creating capabilities and expanding capacities for sustainable profitable growth and leverage on the upcoming opportunities in Telecom, 5G network implementation, Defence and Railways. Our mission is to transform as a technology driven enterprise that innovates and manufactures for both domestic and global markets with an aim to become a multinational player in Optic Fiber Cables and telecom & networking products.

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