HFCL posts strong revenue growth
Himachal Future Communications Limited reported strong quarterly performance in Q1FY19. The company’s Turnkey & Contract segment reported strong traction in the revenue.
The total revenue for the quarter grew by 21.5 per cent yoy and 9.3 per cent qoq to Rs. 1,032 crore in Q1FY19 vs Rs. 850 crore in the same quarter the previous year and Rs. 944 crore in the previous quarter. The Turnkey & Contract segment aided strong revenue growth at Rs. 845 crore in Q1FY19 vs Rs. 670 crore in the same quarter the previous year.
The EBITDA margin for the quarter rose by 56 per cent yoy and 18 per cent qoq to Rs. 89 crore in Q1FY19 vs Rs. 57 crore in the same quarter the previous year. Further, the EBITDA margins for the quarter also expanded by 190 bps to 8.6 per cent vs 6.7 per cent in Q1FY18. This was largely led by sharp decline in other expenses in the quarter.
The net profit for the quarter rose by 73 per cent yoy to Rs. 44 crore in Q1FY19 vs Rs. 26 crore in the same quarter the previous year.
Meanwhile, the stock of HFCL was trading at Rs. 25.65 per share down by 2.47 per cent on Thursday morning