HFCL – Q2FY23 Results

HFCL Limited, India’s leading technology enterprise with operations across manufacturing of high-end telecom equipment, optical fiber and optical fiber cables and offering communication network solutions for Telcos, Railways and Defence sectors announced its un-audited financial results for the second quarter and half year ended 30th September, 2022.

Consolidated Financial Highlights – Q2’FY23

For the half year ended 30th September, 2022, the Company reported consolidated revenue of ₹2224 crores, EBIDTA of ₹304 crores, PBT of ₹185 crores and PAT of ₹137 crores.

For the second quarter ended 30th September, 2022, on standalone basis, the Company reported, Revenue of ₹1119 crores, EBIDTA of ₹149 crores, PBT of ₹102 crores and PAT of ₹76 crores compared to Revenue of ₹951 crores, EBIDTA of ₹106 crores, PBT of ₹63 crores and PAT of ₹48 crores in Q1FY23.

For the half year ended 30th September, 2022, the Company reported standalone revenue of ₹2071 crores, EBIDTA of ₹255 crores, PBT of ₹166 crores and PAT of ₹124 crores.

Commenting on the Company’s performance, Mahendra Nahata, Managing Director, HFCL said, “On the backdrop of easing supply chain disruptions and improvement in input costs, we have been able to demonstrate healthy growth in our revenue and margins over last quarter. With the leap in technology, higher backward integration, capacity expansion in OFC business, production of next-gen equipment and expanding global footprints, we are well on our mission to transform as a technology-driven enterprise that innovates and manufactures for both domestic and global markets with an aim to become a Product led global player in Optic Fiber Cables and telecom equipment and solutions”.

Nahata further added, “We have further strengthened our R&D initiatives and 5G product portfolio and launched World’s first open standard Wi-Fi 7 Access Points, 8T8R Macro Radio units and 5G Lab-as-a-Service. Backed by our portfolio of indigenous futuristic products & solutions, our share of exports to revenues has improved to 16.38% in Q2 FY23 as compared to 9.08% in Q2 FY22. We continue to see strong response in key global markets like Europe, Africa and Middle East, thereby making us optimistic about doubling our exports to ₹ 750 crores by end of FY23. We have also committed an investment of ₹425 crores on R&D and creation of facilities to manufacture telecom equipment under the Government’s PLI/DLI scheme”.

CT Bureau