HFCL reports a 37.4 per cent increase in profits for the quarter ended September 2014

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HFCL reports a 37.4 per cent increase in profits for the quarter ended September 2014

October 21, 2014

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Himachal Futuristic Communications Limited (HFCL) has reported an increase in net profits from Rs 501.5 million for the quarter ended September 2013 to Rs 689.4 million for the quarter ended September 2014. The revenues for the company increased from Rs 50.40 billion in July-September 2013 to Rs 65.05 billion in the corresponding period in 2014. Further, HFCL also witnessed an increase in its earnings before interest, taxes, depreciation and amortisation from Rs 567.7 million to Rs 733.7 million during the same period. However, the finance costs were stable at Rs 76.9 million for the period under review.

The telecom products division witnessed an increase in profits from Rs 7 million for the quarter ended September 2013 to Rs 177.3 million for the quarter ended September 2014, while the turnkey contracts and services division recorded a growth of only 5.93 per cent in profits from Rs 573.1 million to Rs 600.4 million during the period.