Domestic telecom gear maker HFCL on January 20 posted a consolidated profit of Rs 45.34 crore for the third quarter ended December 31, 2019. The company had posted a profit of Rs 69.1 crore in the same period a year ago.
During the quarter, HFCL acquired entire stake in DragonWave HFCL India Private Ltd and due to business combination of these two entities, the quarterly result on year-on-year basis is not comparable, according to auditors note.
HFCL recorded Rs 853.47 crore in revenue from operations. The same was Rs 1,220.88 crore in corresponding period of 2018-19.―Money Control