HFCL zooms 6 per cent; trades close to 52-week high price

The stock of Himachal Futuristic Communications Limited (HFCL), a publicly-listed telecom company jumped over 6 per cent on Thursday.  

This Delhi-based company recently declared its financial results for the fourth quarter of FY21, which recorded a net profit of Rs 86.47 crore for the quarter ended March 31, 2021, giving a rise of 1.6 per cent over its previous quarter’s Rs 85.11 crore. Meanwhile, its total income stood at Rs 1,391.40 crore in Q4FY21 over Rs 1,277.40 crore of Q3FY21. The current order book of the company stands at Rs 6,875 crore.  

The company traced back its growth mainly to in-house designed and developed products, in consistence with Atmanirbhar Bharat, which would continue to boost to its overall profitability. The company has recently launched its Telecom Infra Project (TIP) Open Wi-Fi compliant access points, a platform to enhance interoperability among multiple vendors, leading to faster rollout of features. 

The stock has given YTD returns of 59.89 per cent and a return of 383.52 per cent over one year. On Thursday, its stock was trading at Rs 44.40, which is a 6.22 per cent increase on BSE.